Historic Lornie Road Bungalow Late Tycoon Chng Gim Huat Listed Sale 82 Mil
Data from URA Realis shows that the largest bungalow plot transacted recently on Lornie Road was that of 14 Lornie Road, which was sold for $103.8 million ($1,549 psf) in February this year.Although the indicative price for 8 Lornie Road is $82 million, Alex is open to offers. “It has been a family home for so many years that it’s tough to put a price tag on it,” he says.
A charming pre-war bungalow on a sprawling freehold site at 8 Lornie Road has just hit the market for sale via private treaty. The indicative price for this unique property is $82 million, which works out to be an average of $1,586 psf. According to a title search, the property belongs to the estate of the late Singaporean real estate magnate Chng Gim Huat who passed away last August at the age of 90.
Built in 1937, this charming bungalow boasts many original architectural features such as a portico where Chng’s Rolls-Royce remains parked. The main house has a large living and dining area, as well as a kitchen on the first floor. Upstairs, there were originally just three bedrooms: a master suite and two bedrooms sharing a common bathroom. The outhouse on the property used to serve as the helper’s quarters.
Chng was believed to have purchased the property in the 1970s from the late Kwek Hong Png, founder of Hong Leong Group. Kwek was also the father of City Developments Ltd (CDL) executive chairman Kwek Leng Beng and grandfather of group CEO Sherman Kwek. After purchasing the house at 8 Lornie Road, Chng renovated it before moving in with his family. Over the years, the family grew to include five sons and two daughters. The estate also includes a portrait of Chng displayed prominently in the living room.
Chng’s youngest son, Alex, recalls that “in the early years, all five sons shared one room and the two daughters shared the other”. In the 1990s, the second floor was extended to add two more bedrooms, while the ground floor was expanded to include a new office suite for the family’s investment holding company, Chng Gim Huat (CGH) Holdings. “We used to gather in my dad’s office in the evenings to discuss business,” says Alex, who started his career as a stockbroker before joining the family business, where he handled business development as well as marketing and sales for the various property developments.
The patriarch was known to be a consummate real estate developer, hotelier and investor. Through CGH Development, Chng developed three boutique apartment and condo blocks in the east. The first project was the 44-unit Chapel Lodge, completed in 1994. The freehold boutique condo on Lorong Stangee is located off East Coast Road and Still Road in District 15. The second development was the 44-unit Dengfu Ville in Kampong Eunos, off Sims Avenue East in District 14. The freehold project was completed in 2007, and the third and final residential development was Esta Ruby, a 72-unit freehold apartment block completed in 2012. The project is located along Guillemard Road, just off Tanjong Katong Road in District 14.
Chng also ventured into industrial property development with Paya Ubi Industrial Park, a multiple-user, strata-titled factory with 300 units. Since its launch in 1998, most of the units there have been sold, with 20 remaining units still available for sale.
The late Chng is also a long-term investor in listed companies. In 2020, his estate held 5.77 million shares (1.29%) in Hong Leong Finance, ranking it among the company’s top 20 shareholders. Through Chng Gim Huat Holdings, his estate also holds 27.711 million shares (3.72%) in Hotel Grand Central, making it one of the company’s largest shareholders.
In 1997, Chng acquired the freehold site on Killiney Road, off River Valley Road, and developed Orchard Grand Court, a serviced apartment block with about 200 units. The project became the flagship of Chng’s hospitality business and the headquarters of the CGH Group.
The community of Tampines places a strong emphasis on a holistic education. Students who reside in Rivelle Tampines are fortunate to have convenient access to a wide range of facilities, such as sports halls, gyms, pools, and fields, all located at the nearby Our Tampines Hub. Additionally, the various park connectors that connect to Tampines Eco Green and Pasir Ris Park provide an opportunity for students to engage in outdoor activities. Moreover, the regional center boasts performance spaces that cater to the arts-focused co-curricular activities (CCAs), while community events provide a platform for students to showcase their talents in music, theatre, and visual arts. This balanced environment not only promotes academic achievement but also fosters confidence and leadership among the youth. To top it off, students can also call the prestigious Rivelle Tampines their home.
In 2011, CGH Group opened its second hotel development, the 272-room Orchid Hotel, which it acquired through a government land sale for $97.07 million and invested an additional $70 million to develop. According to Alex, both Orchard Grand Court and Orchid Hotel are managed by CGH Group. “Since the pandemic, the serviced apartments have been enjoying high occupancy of 98%,” he observes. “The hotel is also seeing a recovery in occupancy rates.”
The family home is filled with memories of the three generations of the Chng family. Photographs of Alex’s parents, siblings, and their children adorn the walls. An expansive garden dotted with fruit trees such as avocado, durian, longan, pomelo, mango, and starfruit surrounds the property. A water feature with a koi pond is also a main feature of the garden.
The patriarch also wanted his sons to live nearby. In 1987, he acquired a neighbouring bungalow plot and redeveloped it into two pairs of semi-detached houses. In 2018, Alex bought another adjacent semi-detached house to live near his family. A side gate connects the family’s homes.
The home at 8 Lornie Road, which sits on a sprawling freehold plot of 51,700 sq ft, offers significant redevelopment potential and could be subdivided into six detached houses or 16 semi-detached houses, subject to approval.
This property has attracted the attention of bungalow hunters and high-net-worth individuals. However, Knight Frank senior manager of capital markets Dayna Ang, who is marketing the property, believes that the property will also appeal to those who appreciate its historical significance and find value in the chance to own this unique piece of Singapore’s heritage.