Friday, September 07, 2012

Tai Thong Crescent site fetches top bid of S$245m

The Urban Redevelopment Authority (URA) closed the tender for a residential with 1st storey commercial site  at Tai Thong Crescent (Parcel C) yesterday, with a total of eight bids received.
The highest offer of S$245 million came from Verwood Holdings and Intrepid Investments.

The tender for Parcel C was launched on 30 July with a lease term of 99 years. The site has a land area of 0.82-ha and a maximum permissible gross floor area (GFA) of 28,702 sq m.

CEL Property submitted the second highest bid of S$220.61 million, while the lowest offer came from Evia Real Estate (3) and Ho Lee Group at S$172.68 million.

URA is expected to award the tender after all the bids have been evaluated.

View the original article here

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