Bite-sized city-fringe condo site draws 16 bids

Singapore

A 99-YEAR private condominium site at Sturdee Road drew a whopping 16 bids, with a wide pool of developers keen on the bite-sized offering in an attractive city-fringe location near City Square Mall, Farrer Park MRT Station and other amenities.

The top bid by Sustained Land unit SL Capital (1) Pte Ltd - of nearly S$181.19 million or S$786.92 per square foot per plot ratio (psf ppr) - however, was above the range of forecasts made earlier by four property consultants polled by The Business Times.