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URA launches tender of another residential site at Enggor Street
By Loh Kim Chin, Channel NewsAsia | Posted: 18 September 2007 2129 hrs

SINGAPORE: The Urban Redevelopment Authority has launched a residential site at Enggor Street for sale by public tender.

This is the second residential site to be launched for tender at Enggor Street this month.

The 99-year leasehold site has an area of 2,800 square metres.

It can generate a maximum permissible gross floor area of about 23,500 square metres.

The first storey can be set aside as commercial space.

CB Richard Ellis expects the site to be able to attract bids of more than S$200 million or above S$800 per square foot per plot ratio.

At this price, the breakeven cost works out to S$1,350 per square foot.

Another property consultant, Knight Frank, is more conservative.

It expects the site to fetch prices from S$156 million to S$177 million.

This translates to between S$620 and S$702 per square foot per plot ratio.

The tender for the site, which was transferred from the reserve to confirmed list, will close in November.


- CNA/so