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Property

Woodleigh site exceeds expectations with S$700.7m top bid

Published Tue, Jul 11, 2017 · 10:12 AM
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IT was another competitive fight for the residential site at Woodleigh Lane.

The tender results, announced by the Urban Redevelopment Authority (URA) on Tuesday, showed 15 bidders for the 99-year-leasehold plot located close to Bidadari New Town.

Chip Eng Seng's unit, CEL Unique Development, put in the top bid of S$700.7 million, which translates to about S$1,110 per square foot per plot ratio (psf ppr).

Corson and Wingjoy Investment put in the second highest bid of S$695 million, or about S$1,101 psf ppr.

Verwood Holdings and Logan Property put in the third highest bid of S$688.1 million, or about S$1,090 psf ppr.

These all far exceeded consultants' earlier expectations of about S$750 to S$830 psf ppr.

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