CNA : Woodsville Close site attracts top bid of S$50.7m from Frasers - 17 Jul 07
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Dan @ 94 777 977
Jul 18, 2007, 10:53:32 AM7/18/07
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Woodsville Close site attracts top bid of S$50.7m from Frasers Centrepoint
By Loh Kim Chin, Channel NewsAsia | Posted: 17 July 2007 2111 hrs
SINGAPORE : The tender for the residential site at Woodsville Close has
attracted a top bid of S$50.7 million from Frasers Centrepoint.
This works out to S$434 per square foot per plot ratio.
The bid is about 70 percent above the reserve price of S$30 million.
All in, the tender exercise by the Urban Development Authority received 8
bids.
CB Richard Ellis says this reflects the confidence of developers in the
strengthening suburban residential market.
It adds that the future apartment project to be built on the site will have
a breakeven price of between S$750 and S$800 per square foot. - CNA/ch
By Loh Kim Chin, Channel NewsAsia | Posted: 17 July 2007 2111 hrs
SINGAPORE : The tender for the residential site at Woodsville Close has
attracted a top bid of S$50.7 million from Frasers Centrepoint.
This works out to S$434 per square foot per plot ratio.
The bid is about 70 percent above the reserve price of S$30 million.
All in, the tender exercise by the Urban Development Authority received 8
bids.
CB Richard Ellis says this reflects the confidence of developers in the
strengthening suburban residential market.
It adds that the future apartment project to be built on the site will have
a breakeven price of between S$750 and S$800 per square foot. - CNA/ch
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