Soilbuild puts in top bid of S$13.6m for Woodlands site

Niche property developer Soilbuild has put in the top bid of over S$13.6 million for an industrial site at Woodlands Industrial Park. This works out to S$30 per square foot per plot ratio.

The site has a 60-year lease and can potentially yield a gross floor area of about 452,000 square feet of factory space.

Consultants Colliers International said the top bid is in line with price expectations for sites in that area.

All in, there were four bids for the site, with Zap Piling placing the second highest bid of S$8.6 million.

This was followed by SP Development which offered S$8.1 million, and Boon Keng Development which bid S$6.2 million, for the site. – CNA/vm

Source : Channel NewsAsia – 22 Jul 2008

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