The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Tampines Avenue 10 to F.E. Lakeside Pte. Ltd., FCL Topaz Pte. Ltd. and Sekisui House, Ltd. The consortium submitted the highest bid in the tender for the site.
The bid is of S$252.78 million, which works out to around S$417.86 psf ppr. This may work out to a break-even cost of between S$750 psf and S$800 psf.
Launched for sale on 28 March 2012, the 99-year leasehold site has a total area of 20,071.1 sq m with a permissible gross floor area (GFA) of 56,200 sq m and is zoned for residential development.
The site is of close proximity to Temasek Polytechnic and the recreational areas of Bedok Reservoir Park. There should be buyer interest from locals as well as foreigners who work in Changi Business Park and Tampines Regional Centre.