A Singapore property tycoon’s family home is on sale for $83 million. The 51,700 sq ft freehold estate at 8 Lornie Road is up for tender, with a guide price that translates to $1,605 psf on the land area.
The property, which has been in the family for generations, features expansive grounds and a relatively long frontage of about 58m. It is located in prime District 11, making it a rare opportunity for buyers.
A Rare Opportunity
This is not the first time the freehold family home has been listed for sale. It went on the market for $82 million ($1,586 psf) in May 2025, in a private treaty sale. The current guide price of $83 million, or $1,605 psf, is a 1.2% increase from the previous asking price.
The size of the landed site for sale means that it could potentially be subdivided into six detached or 16 semi-detached houses, or even a new cluster housing project, according to Knight Frank. The marketing agent notes that most of the landed properties in the area have likely already been subdivided in the past.
A former bungalow plot on 14 Lornie Road was acquired by Clydesbuilt Group and redeveloped into Lornie 18 in 2006. The development is a freehold cluster housing project of 18 strata-titled detached houses. A recent transaction at Lornie 18 saw a 4,650 sq ft unit sold for $5.55 million ($1,194 psf) in August 2026.
Redevelopment Potential
The new owner of the property at 8 Lornie Road might choose to keep the large land size and redevelop the site into a new multi-generational family home. This was how the late Chng Gim Huat, who founded local property development company CGH Group, and his descendants used the home in the past.
Dayna Ang, Senior Manager of Capital Markets at Knight Frank Singapore, notes that the property offers a rare opportunity to acquire a large freehold site at an attractive entry point. The sale presents buyers with a choice that goes beyond the price tag: retain a historical family home, create a private estate for future generations, or explore the site’s redevelopment potential.
The tender exercise for the sale of 8 Lornie Road closes on November 12. With its prime location and redevelopment potential, the property is likely to attract interest from developers and private buyers. Melvin Chay, Interim Head of Capital Markets at Knight Frank Singapore, notes that well-located freehold residential assets continue to attract interest from developers and private capital.
The property’s scale, location, and development possibilities make it an attractive option for buyers. Dayna Ang points out that the property offers a substantial freehold estate in a market where opportunities of this nature are increasingly difficult to replicate. The property’s attributes make it a unique and valuable asset, and its asking price of $83 million will be carefully considered by potential buyers.
The family members of the late Chng Gim Huat will have to consider the potential consequences of selling their family home. The property has been a private residence and a gathering place for the family’s business discussions since the 1970s, and its sale could mark a significant change for the family.
Other notable properties in the area have also changed hands in recent years. A 999-year strata-titled shophouse at 25 Binjai Park has a guide price of $4.4 million, or about $3,170 psf. Meanwhile, the cheapest condos in Singapore are mostly 400 to 500 sq ft, with only 1 in 22 condo resales in the past year going for $800,000 or less.
Market Trends
The sale of Orchid Hotel in Tanjong Pagar to Singapore property investor Leow Ban Leong and Canada’s Westmont Hospitality Group for $273 million in June this year is a notable example. Other developments in Singapore still owned by CGH Group include CGH Building on Killiney Road and Paya Ubi Industrial Park.
