10 bids for plot near Farrer Park MRT station
A TENDER for a 99-year leasehold plot directly connected to the Farrer Park MRT Station and near Mustafa Centre has drawn 10 bids.
The highest bid, from a tie-up between City Developments and MCL Land, came in at S$445.89 million, or S$1,129 per square foot per plot ratio (psf ppr).
The second highest bid, from Winrich Investment, was at S$421.89 million or S$1,069 psf ppr.
The lowest bid of S$256 million or S$648 psf ppr was from Japura Development Pte Ltd.
The 0.87-hectare site, located along the future Northumberland Road, is zoned "residential with commercial at first storey". It can yield about 405 private housing units.
The successful bidder will be required to provide an early-childhood development centre facility with a minimum gross floor area of 500 sq m within the proposed development for a period of at least 10 years.
The land parcel is a short distance from Mustafa Centre.
The tender, conducted by the Urban Redevelopment Authority, closed at noon on April 27.
Copyright SPH Media. All rights reserved.
