Top bid of $446.28m for Serangoon North Avenue 1 private residential site

The private residential site in Serangoon North Avenue 1 that was up for public tender attracted 16 bids.
The private residential site in Serangoon North Avenue 1 that was up for public tender attracted 16 bids. PHOTO: URBAN REDEVELOPMENT AUTHORITY

SINGAPORE - The public tender for a private residential site in Serangoon North Avenue 1 attracted 16 bids.

Corson and Wingjoy Investment - units of Keppel Land and Wing Tai Holdings - jointly placed the top bid of $446.28 million, the Urban Redevelopment Authority (URA) said on Thursday (July 27).

The price works out to about $964.8 per sq ft per plot ratio for the 99-year leasehold plot, which could yield 505 private homes.

The top bid was about 6.6 per cent higher than the second of $418.7 million tabled by FCL Residences.

Singland Homes and UOL Venture Investments jointly submitted the third highest bid at $417.2 million.

The site has a land area of 17,189.1 sq m and permissible gross floor area of 42,973 sq m.

It was put up for sale under the confirmed list of the Government Land Sales programme for the first half of the year.

The URA will now evaluate the bids.