The Urban Redevelopment Authority (URA) has launched the residential site at Farrer Drive for sale by public tender today.
The land parcel was made available for sale through the Reserve List system on 16 April 2012. On 11 May 2012, URA announced that it had received an application from a developer to put up the land parcel for tender. The developer has committed to bid at a price of not less than $88,888,000 for the land parcel in the public tender.
With a site area of about 0.63 ha, the residential site will have a maximum permissible gross floor area (GFA) of 10,030 sqm.
The land parcel is located in an established private residential area within the central region. It is easily accessible by major arterial roads and expressways such as Farrer Road, Holland Road, Pan-Island Expressway (PIE) and Ayer Rajah Expressway (AYE).