Convicted oil tycoon OK Lim to sell his third GCB for $43 mil

Convicted former oil tycoon Lim Oon Kuin, commonly known as 'OK Lim', is looking to sell his third Good Class Bungalow (GCB) for $43 million. The two-story GCB is located on Tanglin Hill, within the Ridley Park GCB Area, and sits on a 15,636 sq ft plot. The asking price translates to a land rate of $2,750 psf. The property has a built up area of about 8,110 sq ft and comprises five-bedrooms, a helper's room, a living room, a dining room, a kitchen, and a basement. The site also consists of a car porch, landscaped garden, and swimming pool. Read also: Versace-inspired Good Class Bungalow on Old Holland Road hits the market at $66.7 mil Advertisement Last month, the founder of Hin Leong Trading was convicted of two cheating charges and one count of instigating forgery for the purpose of cheating. His sentencing is scheduled for October 3. This is the third GCB that the former tycoon has put on the market. His previous GCBs, one at Second Avenue and another on Third Avenue, have already been sold. EdgeProp Singapore reported that the GCB on Second Avenue was sold for $27 million ($1,351 psf) back in April 2020. Meanwile, URA caveats indicate that the GCB along Third Avenue was sold for $26.39 million ($1,810 psf) last November. GCB transactions at Tanglin Hill have been relatively few and far between over the past decade and caveats show that only three GCBs have changed hands over that period. The most recent was a 16,447 sq ft site that fetched $31.5 million ($1,915 psf) when it was sold in October 2019. Other recent transactions include a 17,728 sq ft plot that was sold for $27.5 million ($1,551 psf) in 2016, and a 16,243 sq ft plot that transacted for $25 million ($1,539 psf) in 2015. OK Lim's GCB on Tanglin Hill is marketed by Knight Frank's Capital Markets team.