Tender sale for an URA mixed-use site at Potong Pasir

A 88,265 sq ft mixed used reserved site in Tai Thong Crescent was up for public tender sale after URA received an acceptable minimum trigger bid  of at least $154.5 million for the plot by a developer.

This 99-year leasehold land parcel is located within walking distance to Potong Pasir MRT station and close to St Andrew village. This site can yield about 267 residential units with commercial units at the first floor.

Due to its favourable location and shortage of amenities in the area, it is estimated to receive bid from $580 psf to $750 per sq ft per plot ratio or about $232 million. Analysts expect up to 15 developers to bid for this land parcel.

For the commercial units, it can include shops and restaurants to cater to the needs of other new condos in the area. These commercial units can fetch from $4,000 to $4,500 psf.

For the residential units, part of the development will have a 2-storey height restriction. The selling price for the residential units are expected to be from $1,250 to $1,400 psf.

17 Jul 2012