The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Bedok South Avenue 3 (pictured) to a consortium after it offered the highest bid of S$345.9 million in a public tender that closed on 9 February 2012.
Li Hiaw Ho, Executive Director of CBRE Research, said the top bid submitted by FCL Topaz Pte Ltd, Sekisui House Singapore Pte Ltd and F.E. Lakeside Pte Ltd, works out to around S$534 psf ppr and translates to a breakeven cost of approximately S$950 psf.
Launched for sale on 22 December 2011, the land parcel has a total site area of 28,644.5 sq m and a maximum gross floor area (GFA) of 60,154 sq m.
“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.
“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.”
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