Tuesday, August 19, 2008

SLA Sees Good Interest For Infill Sites Ahead Of Auction

Source : The Business Times, August 19, 2008

THE Singapore Land Authority (SLA) yesterday said that it has received about 100 enquiries for the eight infill sites it launched for residential use on June 26. The sites will be auctioned off on Aug 21.

'There has been especially strong interest in the good class bungalow site at Ridout Road and sites in the eastern region of Upper East Coast Road and Tanah Merah Kechil Road,' SLA said. 'These sites received the most number of enquiries.'

Other sites include bungalow plots in Namly Avenue, Braddell Road and Glasgow Road.

Over 30 auction packets were sold for these sites, with quite a number downloaded from SLA's website. Interested parties include individuals, niche developers, architects and contractors, SLA said. This is the second time that SLA is offering such sites for sale through public auction.

In November 2007, six infill sites were sold for some $30.6 million in all. Then, some of the 99-year leasehold residential land parcels went for bargain prices.

A 16,690 sq ft good class bungalow (GCB) site at Eng Neo Avenue was picked up by a buyer at the starting auction price of $6 million - which works out to $360 per square foot (psf).

And another GCB plot, also on Eng Neo Avenue, was sold for $12.1 million - significantly above the starting price of $9.5 million. But the 29,200 sq ft site was still considered a good buy as it went for $414 psf.

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