The Northumberland Road site sold for $445.888 million and can potentially yield 405 housing units. Source: URA
The tender for a 99-year leasehold site at Northumberland Road has been awarded to Maximus Residential SG and Maximus Commercial SG, announced the Urban Redevelopment Authority on Wednesday (5 May).
This comes after the joint venture between CDL and MCL Land submitted the highest bid of $445.888 million, or $1,129 per sq ft.
Launched on 27 October 2020, the 8,732.9 sq m site is zoned for residential with commercial at the first storey. It has a permissible gross floor area of 36,679 sq m and could yield about 405 housing units.
The tender for the site closed on 27 April, with ten bids received.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: email@example.com