Hillview residential sites' tenders withdrawn 'for other development plans'

SHORTLY before their scheduled closing date, 2 sale tenders for a total of 25 factories, all zoned for residential use and spanning more than 132,000 square feet (sq ft) of land in Hillview, have been taken off the table, The Business Times (BT) has learnt.

One of the tenders, marketed by Colliers and carrying a S$106 million indicative price, is for the 999-year leasehold plots located at 32-38D Hillview Terrace. The other, marketed jointly by Colliers and OrangeTee Advisory with a S$122 million price tag, is for the freehold sites at 31-35 and 50-64 Hillview Terrace.

Both were launched in November last year and slated to close at 3pm on Thursday (Jan 20). The withdrawals were announced in notices printed in BT on Jan 19 for the 999-year leasehold site, and on Jan 18 for the freehold plots. No reason was offered.