Tenders awarded for Tan Quee Lan St, Bernam St and one-north Gateway sites

Fri, Sep 13, 2019


THE tenders for three sites under the first half of the 2019 Government Land Sales (GLS) Programme were awarded on Thursday by the Urban Redevelopment Authority (URA).

The three sites are at Tan Quee Lan Street, Bernam Street and one-north Gateway. The tenders closed on Sept 5 and were awarded to the highest bidders. The land parcels were offered for sale on 99-year lease terms.

The 124,116 square foot site at Tan Quee Lan Street, which attracted two bids, was awarded to GuocoLand subsidiary GLL D, Intrepid Investments and Hong Realty with their bid of S$800.2 million, or S$1,535 per square foot per plot ratio (psf ppr)

The 41,400 sq ft Bernam Street site was awarded to Chinese firm HY Realty, which put in a top bid of S$440.9 million (S$1,463 psf ppr). That was the highest among the four bids received by the URA.

The 62,201 sq ft site at one-north Gateway, which attracted a total of nine bids, was awarded to TID Residential, a joint venture between Hong Leong Holdings and Mitsui Fudosan Co. Their offer was S$155.7 million, or S$1,001 psf ppr.

The one-north Gateway site was launched for sale under the confirmed list as part of JTC's efforts to inject more residential spaces in the one-north estate in a bid to meet housing needs, and to enhance the area as a mixed-use business park.