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16 bids for private condo site at Sturdee Road

Tuesday, March 24, 2015 - 18:15

A 99-year private housing site at Sturdee Road near Farrer Park MRT Station has drawn 16 bids.

The top bid, by SL Capital (1) Pte Ltd, a unit of Sustained Land, was nearly S$181.19 million, which translates to S$786.92 per square foot per plot ratio (psf ppr).

The top bid was 7.3 per cent more than the second highest bid of S$168.80 million or S$733.11 psf ppr placed by Singapore Land unit Singland Homes.

Wee Hur Development was in third position with a bid of S$703.06 psf ppr. The lowest bid, from NSS Sturdee, was S$79.50 million or S$345.28 psf ppr.

The tender, conducted by Urban Redevelopment Authority, closed on Tuesday.

Located near City Square Mall, the 0.6-hectare site can be developed into a 30-storey project with an estimated 265 homes.

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