The tender for a 99-year leasehold residential site at Bedok South Avenue 3 (pictured) has attracted a total of seven bids, with a consortium comprising F.E. Lakeside Ltd, FCL Topaz Ltd and Sekisui House Singapore Ltd offering the top bid of S$345.9 million.
“The site is attractive enough to have garnered seven bids from developers. The top bid of S$345.9 million or S$534 psf ppr will work out to a breakeven cost of around S$950 psf,” said Li Hiaw Ho, Executive Director of CBRE Research.
The second highest bid came from UVD Ltd at S$340.8 million, while Soilbuild Group Holdings submitted the lowest bid at S$235.23 million. Other bidders for the site include MCL Land, Kingsford Development, Mezzo Development and a consortium comprising Sunmaster Holdings, Hong Realty (Private) Ltd and Intrepid Investments Ltd.
Launched for sale on 22 December 2011, the land parcel has a total area of 28,644.5 sq m and a maximum gross floor area (GFA) of 60,154 sq m. It is situated near Tanah Merah Interchange station, and is well connected to major roads and expressways.
“The subject site is located at the south-eastern fringe of Bedok HDB estate and is less than 10 minutes’ walk to Tanah Merah MRT station on the East-West Line,” said Li.
“This is an interchange station for connecting to Singapore Expo and Changi International Airport. The site is adjacent to Bedok Court condominium on one side and landed homes on another. Amenities and retail needs can be met by the shops, eateries and market in the HDB estate.”
“More shopping facilities are also available a short drive away at Bedok Central and the Singapore Expo where the Singapore University of Technology and Design is now under construction,” he added.
The Urban Redevelopment Authority (URA) said the decision on the award will be made at a later date, after all the bids have been evaluated.
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