The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Jervois Road to SL Development, which submitted the highest bid of S$118.9 million.
The 99-year leasehold site had attracted 17 bids during the tender exercise, which was launched on Dec 22 last year and closed on Feb 2.
The 96,423-sq-ft site has a maximum permissible gross floor area of about 135,000 sq ft and is expected to yield 140 units.
SL Development’s winning bid works out to about S$881 psf ppr.
Source : Channel NewsAsia – 8 Feb 2012