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Cautious bids for Woodlands industrial site

Published on Jul 1, 2014 7:01 PM

A plot of industrial land at Woodlands Avenue 12 drew muted bids at the close of the tender on Tuesday, which could be partly due to its large size.

The highest offer for the 3.92ha land parcel was $76.9 million from Wee Hur Development, which works out to about $73 per sq ft (psf) per plot ratio (ppr).

Wee Hur's top bid was below consultants' earlier estimates that the site would fetch a top bid of at least $80 psf ppr, with some even predicting as much as $115 psf ppr.

The four other bidders were NSS Realty, Mezzo Development, Sim Lian Land and Soilbuild Group.

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