10 bids for Bt Panjang site
Seems like the Bukit Panjang area will be quite happening in the next few years, thanks to a mixed commercial and residential development that will be integrated with the current bus interchange.
The site at the junction of Jelebu Road/Petir Road has an area of more than 200,000 sqft, there’ll be a mall and condo rolled into one. We figure this site will be super popular as well, since the URA has received 10 bids for this site already. Sim Lian put in the highest bid of nearly $493m ($807 psf ppr), while Sherwood Development and K-Commerical Management came in second with $445m ($727 psf ppr). To be honest, the bids weren’t that competitive, given the $48m gap between the first two bids.
What will the eventual selling price be? Due to the commercial area included in that tender, we can’t really tell how much the residential bit will cost future buyers. But going by the recent Bedok Residences’ (which is also right beside the MRT and has an interchange and mall downstairs) selling price of around $1,000psf, chances are this Bukit Panjang condo will be similarly priced.
Anyway, here are the rest of the bids:
- UED Capital Venture Pte. Ltd. and Earth Holdings Pte. Ltd- $416m
- Empire Square Investments Pte. Ltd. And Newston Developments Pte. Ltd- $411m
- Wingstar Investment Pte. Ltd. and Mercatus Retail Development Pte. Ltd- $402m
- BBR Property Pte Ltd, Guthrie (SGW) Pte. Ltd., SK Land Pte Ltd and Sun Venture Group Pte Ltd- $364m
- Aquamarine Development Pte. Ltd. and FC Commercial Trustee Pte. Ltd. (as trusteemanager of Aquamarine Star Trust)- $350.3m
- Kentish View Pte Ltd and Sekisui House Singapore Pte. Ltd.- $350m
- Jack Investment Pte Ltd and Teneriffe Development Pte Ltd- $316m
- Peak Shines Pte Ltd- $250m
Article & Image: http://www.h88.com.sg/article/10+bids+for+Bt+Panjang+site/