Ridout Rd site gets nearly 10 bids, Gallop Rd GCB to fetch S$25.8m

Singapore

THE tender for a 73,277 sq ft freehold Good Class Bungalow (GCB) site at 35 Ridout Road closed on Wednesday and is said to have attracted close to 10 bids. Market watchers reckon the highest bid could be around S$85 million. Subject to planning permission, the land area is large enough to be subdivided into four smaller GCB plots.

According to an earlier media report, the property is a trustee sale due to a court order arising from the resolution of a dispute in the family of the late property tycoon Chow Cho Poon. The trustee is expected to take some time to make a decision. DTZ conducted the tender.