Wing Tai highest bidder for Middle Rd site; Hong Leong Holdings, CDL tie-up top bidder for Sims Drive site

A STATE tender for a 99-year leasehold site in Middle Road for private residential with commercial at first storey use has drawn 10 bids.

The highest bid of nearly S$492 million or about S$1,458 per square foot per plot ratio (psf ppr) was from Wing Tai Holdings' Wingcharm Investment Pte Ltd.

The second-highest came from a tie-up between MCC Land (Singapore) and Greatview Investment at about S$1,393 psf ppr. 

Other bidders at the tender include a tie-up between City Developments and MCL Land,  a partnership between GuocoLand, Intrepid Investments and Hong Realty, as well as Far East Organization.

JBE Development placed the lowest bid of S$351.96 million, which works out to about S$1,043 psf ppr.

Spanning about 80,300 sq ft, the Middle Road plot can yield an estimated 375 homes. There are two zones: the low-rise zone which can go up to six storeys, and a high-rise zone which can go up to 20 storeys.

At the same tender, a 99-year leasehold private housing site along Sims Drive in the Geylang area drew five bids.

The highest bid of nearly S$383.53 million or about S$732 psf ppr came from a partnership between Intrepid Investments (a subsidiary of Hong Leong Holdings) and CDL Constellation (a fully-owned subsidiary of City Developments).

Spanning 174,600 sq ft, this plot can yield an estimated 570 housing units.

The second-highest bid of S$343 million or about S$655 psf ppr came from GuocoLand's unit GLL B Pte Ltd. GuocoLand developed the Sims Urban Oasis condo next door.

The lowest bid, from Trident East, was S$286.2 million or around S$546 psf ppr. Trident East's shareholders are Fission Holdings, Pinnacle Assets and Chee Hsian Sing.