Source : Channel NewsAsia - 29 Apr 2008
The Urban Redevelopment Authority (URA) has launched a residential site at Woodleigh Close for sale by public tender.
At 1.08 hectare, market watchers said about 260-290 apartment units can be built on the plot of land, which is located near to the Potong Pasir MRT station.
A new 99-year leasehold project in the location is expected to fetch prices of around S$800 psf. This will translate to a possible land price of around S$300-350 psf per plot ratio for the site.
The tender will close at noon on June 24 and selection will be based on the tendered land price only.
Separately, the URA also released the detailed sales conditions for the residential parcel at Upper Thomson Road, which is estimated to offer 380 to 420 new homes.
The site is on URA’s reserve list and developers who are interested in buying it can apply for the plot to be put up for tender.
Under the reserve list system, the site will only be put up for sale if a developer’s minimum bid price is acceptable to the government.
Analysts expect this site at Upper Thomson Road to fetch S$200 to S$240 psf per plot ratio, which will translate into a possible selling price of S$650 to S$700 psf. - CNA /ls
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