The tender for the transitional office site at Scotts Road/Anthony Road has attracted strong bids.
There were a total of eight bids at the close of the tender on Thursday. UOB Kay Hian put in the highest offer at S$34 milllon, 16 per cent higher than the second bid. The bid works out to more than S$242 per square foot per plot ratio.
The almost 8,700-square-metre site is offered on a short-term lease of 15 years.
Property consultant Knight Frank offered a few reasons for the strong bids. It noted that the site is near to an MRT station and is located just outside the central business district.
In addition, office supply continues to be tight, and the site has potential for amalgamation with an adjacent land parcel. - CNA/ac
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