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URA awards tender for Sturdee Road residential site

THE Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Sturdee Road to SL Capital (1) Pte Ltd.

SL Capital (1) submitted the highest bid of S$181.19 million.

With the maximum gross floor area of 21,391 square metres, the tendered price works out to S$8,470.34 per square metre.

The residential site was launched for public tender on Feb 10, and this closed on March 24.

The land parcel - with a site area of 6,111.5 square metres - was offered for sale on a 99-year lease term.