CEL Unique Development Pte. Ltd. puts in top bid of $1110.09psf for Woodleigh Lane site.
CEL Unique Development Pte. Ltd. puts in top bid of $1110.09psf for Woodleigh Lane site.
CEL (60%) and Unique Real Estate (40%) so the effective stake for this project is Chip Eng Seng 60%, Heeton 20.2%, KSH 19.8%.
Woodleigh site exceeds expectations with S$700.7m top bid
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.
not too far off from market expectation...very close fight
“While the indicative land price varies from $750 to $850 psf per plot ratio (psf/pr), we anticipate the winning bid to be in the range of $950 to $1,100 psf/pr given recent aggressive land bidding behaviour.”
that analyst already almost fully covered backside with this kind of range lol.Quote:
Originally Posted by Laguna
Opposite site with commercial element only went for 1,181 psf.
Condo going to be named Park Colonial.
Situated right beside Woodleight MRT, it will be only 5 stops to Dhoby Ghaut MRT. Epitome of convenience.
In addition, investors can ride on the Biddadari wave and rejuvenation of the entire area.
https://www.propertyinvestsg.com/par...dleigh-by-cel/
Park Colonial showflat is opening this this Sat, 30 june 2018
Key highlights for Park Colonial
* Price Starting From $7xxK
* Door step to MRT*
* City fringe location*
* Excellent connectivity & accessibility*
* Potential growth with the upcoming Bidadari township*
* Within 1km of both local & international reputable education institutions*
* 1st wave mover advantage*