The Urban Redevelopment Authority (URA) has announced detailed sales conditions for a white site at Thomson Road/Irrawaddy Road.
The 6,676.8 sq m subject land parcel was made available for application under the reserve list of the 2H 2011 Government Land Sales (GLS) Programme.
Located in an established commercial hub at Novena, the site is close to many existing commercial developments, such as United Square, Square 2 and Velocity @ Novena Square.
Zoned for White development, the site has a maximum allowable gross floor area (GFA) of 28,043 sq m and is next to Novena MRT station.
Meanwhile, the tender for a commercial-cum-residential land parcel along Jelebu Road/Petir Road closed yesterday, with a total of 10 bids received.
Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd jointly offered the top bid of S$492.88 million, or S$8,667.73 psm of GFA.
The second highest offer was jointly submitted by Sherwood Development Pte Ltd and KCommercial Management Pte Ltd at S$445.20 million, while Peak Shines Pte Ltd was the lowest bidder at S$250 million.
Launched for sale on 11 October 2011, the 99-year leasehold site has a total area of 18,954.5 sq m and a maximum GFA of 56,864 sq m. Integrated with a bus interchange, the site is expected to house an impressive mixed-use development, with retail, F&B and residential features.
In addition, the URA awarded the tender for a 99-year leasehold site at Chestnut Avenue to S P Setia International (S) Pte Ltd, after it offered the highest bid of S$180 million in a public tender that closed on 24 November 2011.
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