Individual offers top bid for Mountbatten Rd office site

The tender for a 15-year leasehold office site along Mountbatten Road was closed yesterday, with 11 applications received. The top bid of S$15.01 million, or S$1,278.64 psm of gross floor area (GFA), was submitted by an individual named Chen Chew Yen.

Heeton Capital Pte Ltd offered the second highest bid at S$13.33 million, while Lim Huixing, another individual, was the lowest bidder at S$8.21 million.

Other groups that participated in the tender include Pangjwee Development Pte Ltd (S$12.99 million), Lucrum Development (Singapore) Pte Ltd (S$12.34 million) and Hi-Tek Construction Pte Ltd (S$12.30 million).

Launched for public tender on 3 October 2011, the site has a total area of 11,738.7 sq m and a maximum allowable GFA of 11,739 sq m.

The Urban Redevelopment Authority (URA) said it will announce the tender results after all the bids have been evaluated.

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