Coronation Road residential site receives 12 bids

A residential site at Coronation Road drew strong interest with 12 bids when the tender closed yesterday, said the Urban Redevelopment Authority (URA).

Launched for tender on 28 March, the 37,440.7sq m site offers a lease term of 99 years and is expected to yield about 140 landed housing units.

The highest bid came from Athens Residential Development at S$366 million or S$9,775 psm over the site area, while Astor Properties submitted the second highest bid of S$313.3 million. Wingzest Investment offered the lowest bid at S$163.1 million.

The winning bid will be announced after all the bids have been evaluated.

Source – PropertyGuty – 21 June 2013

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