URA awards Jervois Rd tender to SL Development

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

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