The tender for Serene House has been awarded to luxury-home developer Shelford Properties for S$99 million.
A total of seven bids were received for the residential freehold site.
Marketing agent Colliers International said there were major and mid-tier property players who bid for the site.
The winning bid of S$99 million translates to S$1,400 per square foot per plot ratio.
Serene House is a four-storey walk-up residence located at Jalan Serene, with a land area of 40,000 square feet and a gross plot ratio of 1.4.
It has 24 units and is near the landed housing enclave in Bukit Timah.
The owners of the units at Serene House will each receive about S$4.1 million from the sale.
Source : Channel NewsAsia – 15 Dec 2010