DEVELOPERS have bid aggressively for a 60-year leasehold industrial site at Yishun Avenue 6 (Parcel 1). Seven parties had expressed interest by the time the tender closed yesterday. OKH Management put in a top bid of $27.2 million, or $71 per square foot per plot ratio (psf ppr). The is 2.4 times the trigger price of $11.5 million, or $30 psf ppr, that an unnamed developer had committed to pay in...
OKH Management
Developer OKH Management has placed the top bid of S$27.2 million for the industrial site at Yishun Avenue 6. This is slightly more than double the minimum bid of S$11.5 million committed by an unnamed developed on March 8 this year. The top bid of S$27.2 million translates to about S$71 per square foot per plot ratio. The breakeven cost for this development is estimated to be between S$250 per square...