Urban planners to launch public tender for Serangoon Avenue 3 site

A developer has committed to bidding at least S$83.7 million for a residential site at Serangoon Avenue 3.

The 1.39-hectare land parcel is located near Lorong Chuan MRT station and Nanyang Junior College.

The 99-year leasehold site has a maximum permissible gross floor area of close to 39,000 square metres.

The Urban Redevelopment Authority will launch the tender for the site in about two weeks under the reserve list of the government land sales programme.

Under the system, a site will be released for sale only if a bid with an acceptable minimum price is received.

Source : Channel NewsAsia – 24 Aug 2009

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