SingXpress says it has won the tender to acquire the property located in Foh Pin Mansion at Charlton Road for $21.2 million.

The property is an existing block of 21 units of walk-up apartments covering a total site area of 3,173 sqm. The permissible total gross floor area for construction is 4,292 sqm for residential use.

SingXpress has formed a joint venture partner ACT Holdings to hold and redevelop the properties.

The JV company, to be 80% owned by SingXpress and 20% by ACT, will redevelop the property into not more than 21 cluster terrace housing units.