A popular food court along Upper Thomson Road is changing hands for $45.2 million.
A unit of mainboard-listed TEE Land is acquiring Longhouse, the company said in a filing on Jan 7 to the Singapore Exchange.
The 1,576 square metre freehold site is zoned for commercial and residential use under the 2008 Master Plan, with a maximum plot ratio of 3.
TEE Land intends to redevelop Longhouse into a commercial cum residential development. The property was a family held asset.
The acquisition is in line with its strategy to further expand its local real estate footprint, the company added.
It is not clear if the development can go ahead.
There were earlier reports that Longhouse had been identified by the Land Transport Authority as one of the buildings that could be affected by the construction of the Cross Island MRT line.
The building of the line could involve some land acquisition by the Government.
Details of the new MRT line have not been finalised or disclosed.