15 bids for tender at Upper Serangoon Road

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11-08-11, 21:29
land118

15 bids for tender at Upper Serangoon Road

http://www.channelnewsasia.com/stori...146462/1/.html

15 bids for tender at Upper Serangoon Road

SINGAPORE: Urban Redevelopment Authority (URA) said the tender for a residential site at Upper Serangoon Road / Pheng Geck Avenue (Parcel A) closed with 15 bidders.

The top bid of S$185.16 million came from Clerodendrum Land - a unit of Tuan Sing Holdings. The bid translates to a land price of S$6,106.52 per square metres of gross floor area.

Realty Consortium submitted the second highest bid of S$178.9 million, while Qingdao Construction (Singapore) handed in the third highest bid of S$175 million.

The lowest bid was S$78.2 million from Ace Asset Development.

The 99-year lease site was launched on June 21 and measures 8,663.5 square metres.

Zoned for residential use, the land has a maximum permissible gross floor area of 30,323 square metres.

URA said it will make a decision on the tender award after it evaluates the bids and will announce this at a later date.

- CNA/ck
11-08-11, 21:40
azeoprop

Thats $568psf ppr, lower than nin residence bid of 607psf ppr.

:)
11-08-11, 21:43
land118

Quote:

Originally Posted by azeoprop

Thats $568psf ppr, lower than nin residence bid of 607psf ppr.

:)

still a bullish bid given the current global financial markets sell down and the fact that there are 15 bidders..., show developers still want to load up their land bank....
11-08-11, 21:58
ecimbew

It's a long strip of land. Separated from the road by the MRT entrance and bus stop. But I guess the proximity to the MRT entrance is valuable.

Tender closed on 11 Aug
So probably the submission was done before the US crisis
http://www.ura.gov.sg/pr/graphics/2011/pr11-99a.pdf

http://www.straitstimes.com/STI/STIM...pSerangoon.jpg
11-08-11, 21:58
hyenergix

It could be due to the submissions prior to early August stock market meltdown.

"The 99-year lease site was launched on June 21 and measures 8,663.5 square metres."

Developer is likely to delay the launch to 2012 in view of the market instability.
11-08-11, 22:14
ecimbew

http://i20.photobucket.com/albums/b2...apore/ptp1.jpg

http://www.lta.gov.sg/images/Potong%...20Page%201.jpg

The view facing the low rise landed looks good. Look, this photo is old enough to show what Woodsville 28 used to be. A row of 2-storey landed houses..

http://www.sg-house.com/classifieds/...r-p1040331.jpg
11-08-11, 22:16
hyenergix

Bad for the landed properties behind the strip. They will firesale :eek:
11-08-11, 22:34
DC33_2008

May be good news for them. Not dusty and noisy anymore.

Quote:

Originally Posted by hyenergix

Bad for the landed properties behind the strip. They will firesale :eek:
11-08-11, 22:39
kingkong1984

Quote:

Originally Posted by azeoprop

Thats $568psf ppr, lower than nin residence bid of 607psf ppr.

:)

which means nin residences could be more expansive by 38 dollars assuming everything is the same....

However, it should be neutralised by construction cost and square off...

nin is safe..... just hope that it is not call beh... then nin beh....
11-08-11, 22:50
iwantgizmos

http://www.ura.gov.sg/pr/graphics/2011/pr11-99a.pdf

Any idea what the winning tenderer, Clerodendrum Land, renown projects are?...
It might give us a better idea of their style of design...
11-08-11, 23:57
fclim

Too close to main road and bus stop right in front:doh: Big bus stop some more , like 6 to 7 different bus services. Can't imagine all the noise and fumes each time a bus stops and leaves there. People at bus stop can look into your living and bedrooms for lower floors. The small narrow strip of land means layout of site plan is constrained. Got to be two narrow blocks separated by a long swimming pool in the middle.
12-08-11, 16:14
Cyberknight

Tender conditions stated 5 stories building restriction behind mrt exist/entrance n bus stop. Then 2 blocks of 17/18 stories buildings left n right besides e 5 stories building.
12-08-11, 16:36
2824

Wan tho ave going to be jammed packed when Nin and this one is up and fully occupied. Goodluck during peak hours :(
12-08-11, 17:18
ysyap

Quote:

Originally Posted by 2824

Wan tho ave going to be jammed packed when Nin and this one is up and fully occupied. Goodluck during peak hours :(

The main road outside is already consistently packed during peak hours! V unpleasant to drive there at times! Also, if that land beside Woodleigh MRT is sold as residential, it'll be even more congested! :scared-3:
13-08-11, 00:51
fclim

Quote:

Originally Posted by ysyap

The main road outside is already consistently packed during peak hours! V unpleasant to drive there at times! Also, if that land beside Woodleigh MRT is sold as residential, it'll be even more congested! :scared-3:

The immediate plot next to this also not released yet. It's on the reserve list, Parcel B. Interesting to see this site plan. The units will all be very closely facing each other.
13-08-11, 07:01
hyenergix

Quote:

Originally Posted by fclim

The immediate plot next to this also not released yet. It's on the reserve list, Parcel B. Interesting to see this site plan. The units will all be very closely facing each other.

That area might end up like those in Leicester/potong pasir; small area but full of high-rise condos. Govt should stop launching GLS and just concentrate on BTOs. It is creating over-supply for pte condos and destroying the greeneries and spaces. Previous Minister did not react to crunch in HDB supply. Current Minister is not reacting to oversupply in pte condos.
13-08-11, 07:11
ysyap

Quote:

Originally Posted by hyenergix

That area might end up like those in Leicester/potong pasir; small area but full of high-rise condos. Govt should stop launching GLS and just concentrate on BTOs. It is creating over-supply for pte condos and destroying the greeneries and spaces. Previous Minister did not react to crunch in HDB supply. Current Minister is not reacting to oversupply in pte condos.

That is exactly what our current minister aims to do, not react to more and more PC being built in order to bring down or stabalize property prices! :o
13-08-11, 07:18
hyenergix

Similar logic to not doing anything or building enough HDB so that the prices become higher and demand dies off?
13-08-11, 07:32
ysyap

Quote:

Originally Posted by hyenergix

Similar logic to not doing anything or building enough HDB so that the prices become higher and demand dies off?

Then when demand dies off, prices will fall again and so the cycle repeats itself! :D
13-08-11, 09:27
DC33_2008

Those who have units in the potong pasir are should not sell for long term gain as these areas will boom between Bartley - woodleight - potong pasir mrt stn.

Quote:

Originally Posted by hyenergix

That area might end up like those in Leicester/potong pasir; small area but full of high-rise condos. Govt should stop launching GLS and just concentrate on BTOs. It is creating over-supply for pte condos and destroying the greeneries and spaces. Previous Minister did not react to crunch in HDB supply. Current Minister is not reacting to oversupply in pte condos.
13-08-11, 09:49
hyenergix

I would rather not have any paper gains. Just keep the greenery and space, pls.
13-08-11, 09:53
DC33_2008

The big field at the junction of potong pasir and upper serangoon road will be developed for commercial purpose. It is URA plan to increase the plot ratio (vertical compact living) around all mrt stations.

Quote:

Originally Posted by hyenergix

I would rather not have any paper gains. Just keep the greenery and space, pls.