Tag Archives: Serangoon Ave 3

The Urban Redevelopment Authority (URA) received 15 bids at the close of the tender for the residential site at Serangoon Avenue 3 on Wednesday.

The site, which was originally on the Reserve List of the Government Land Sales Programme, was launched for public tender on September 9. The 99-year leasehold site has an area of about 13,877 square metres and a maximum permissible gross floor area of 38,857 square metres.

Intrepid Investments submitted the highest bid of S$221.2 million, followed by Tuas Hi-Tech Park at S$195.9 million and Keppel Land at S$190 million. The lowest bid of S$120 million came from Lippo Estates.

Li Hiaw Ho, Executive Director, CBRE Research, said: “The popularity of the Serangoon Avenue 3 site is evidenced by the 15 bids that were submitted as well as their price quantum.

“Developers are very confident of this site because it is situated next to the Lorong Chuan MRT station and is close to the Australian International School. It is also close to amenities in Serangoon Gardens and the upcoming shopping mall, nex, at Serangoon Interchange station.”

CBRE said the top bid of S$221.2 million works out to S$529 per square foot per plot ratio and is 164 per cent above the reserve price of S$83.7 million. Continue reading →

A TENDER for a well-located condominium land parcel at Serangoon Ave 3 closed on Wednesday with a whopping 15 bids.

Intrepid Investments came in first with a bid of $221.21 million or $5,692.9 per sq m of gross floor area, said the Urban Redevelopment Authority.

Other bidders include Keppel Land and Sim Lian Land.

The site is next to Lorong Chuan MRT station and the Australian International School.

Source : Straits Times – 7 Oct 2009

The tender for a 99-year leasehold residential site at Serangoon Avenue 3 drew 15 bids on Wednesday, the Urban Redevelopment Authority (URA) said.

Intrepid Investments, a unit of Hong Leong Holdings, submitted the highest bid of $221.2 million or $529 per sq ft of gross floor area.

The lowest bid came from Lippo Estates, at $120 million or $287 per sq ft of gross floor area.

Source : Business Times – 7 Oct 2009