Wednesday, May 23, 2012

Tampines Ave 10 site awarded for S$252.78m

The tender for a residential site (pictured) at Tampines Avenue 10 (Parcel A) has been awarded to a consortium comprising F.E. Lakeside Ltd, FCL Topaz Ltd and Sekisui House Ltd.

It submitted the highest bid of S$252.78 million, which works out to around S$417.86 psf ppr.

Chia Siew Chuin, Director of Research & Advisory at Colliers International, said the S$252.78 million price tag for the site reflects a break-even cost of between S$750 psf and S$800 psf.

Launched for sale on 28 March 2012, the 99-year leasehold site has a total area of 20,071.1 sq m with a permissible gross floor area (GFA) of 56,200 sq m and is zoned for residential development.

“Nevertheless, it is in close proximity to Temasek Polytechnic and the recreational areas of Bedok Reservoir Park. There should be buyer interest from locals as well as foreigners who work in Changi Business Park and Tampines Regional Centre,” noted Chia.

View the original article here

Source From Property Guru

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