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Wow, what kind of developer does it take to name himself Elitist Developmet.....pity he didnt win the plot by putting in a low bid
A residential site at Jervois Road has attracted a total of 17 bids, with S.L. Development Ltd offering the highest bid of S$118.9 million in a public tender that closed yesterday.
“The site attracted a very good response of 17 bids because of its strong location attributes and the lower quantum involved because it is a low-rise development,” said Li Hiaw Ho, Executive Director at CBRE Research.
He noted that the top bid offered works out to around S$881 psf ppr, and translates to a breakeven cost of between S$1,400 psf and S$1,450 psf.
Meanwhile, the second highest bid was S$110 million, offered by Eastwood Park, while the lowest bid came from JVS Capital Ltd at S$71.8 million. Other site bidders include Elitist Development, Meadows Link Development, EL Development, Mezzo Development and Golden Kay Development.
Launched for sale on 22 December 2011 under the 2H2011 Government Land Sales (GLS) Programme, the 99-year leasehold site has a total area of 8,958.0 sq m and a gross floor area (GFA) of 12,542 sq m.
It is located within the prime residential district 10, near the Chatsworth Park Good Class Bungalow (GCB) area.
“It is surrounded by private developments such as Jervois Regency, Jervois Gardens and Jervois Lodge. The High Commission of Malaysia is also close by. Amenities are available at Valley Point Shopping Centre and along River Valley Road,” added Li.
“The future development will be a low-rise development of five storeys, comprising 150 to 200 apartments.”
The Urban Redevelopment Authority (URA) said the tender award announcement will be made at a later date, after all the bids have been evaluated.
A residential site at Jervois Road has attracted a total of 17 bids, with S.L. Development Ltd offering the highest bid of S$118.9 million in a public tender that closed yesterday.
“The site attracted a very good response of 17 bids because of its strong location attributes and the lower quantum involved because it is a low-rise development,” said Li Hiaw Ho, Executive Director at CBRE Research.
He noted that the top bid offered works out to around S$881 psf ppr, and translates to a breakeven cost of between S$1,400 psf and S$1,450 psf.
Meanwhile, the second highest bid was S$110 million, offered by Eastwood Park, while the lowest bid came from JVS Capital Ltd at S$71.8 million. Other site bidders include Elitist Development, Meadows Link Development, EL Development, Mezzo Development and Golden Kay Development.
Launched for sale on 22 December 2011 under the 2H2011 Government Land Sales (GLS) Programme, the 99-year leasehold site has a total area of 8,958.0 sq m and a gross floor area (GFA) of 12,542 sq m.
It is located within the prime residential district 10, near the Chatsworth Park Good Class Bungalow (GCB) area.
“It is surrounded by private developments such as Jervois Regency, Jervois Gardens and Jervois Lodge. The High Commission of Malaysia is also close by. Amenities are available at Valley Point Shopping Centre and along River Valley Road,” added Li.
“The future development will be a low-rise development of five storeys, comprising 150 to 200 apartments.”
The Urban Redevelopment Authority (URA) said the tender award announcement will be made at a later date, after all the bids have been evaluated.
