31 May '13, 3am

Anchorvale EC site draws $245m top bid

May 31, 2013 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share By Romesh Navaratnarajah : An executive condominium (EC) site at Anchorvale Crescent (pictured ) attracted healthy interest with six bidders when the tender closed yesterday, said the Housing and Development Board. Launched for sale on April 15, the land parcel has an area of 247,570 sq ft and a maximum gross floor area (GFA) of 742, 709 sq ft. With a plot ratio of 3.0, the 99-year leasehold site could yield 690 units. Qingjian Realty (South Pacific) Group submitted the highest bid of S$245.6 million followed by Bellevue Properties with S$238 million. Chia Siew Chuin, Director of Research & Advisory at Colliers International, said the top bid by Qingjian Realty translates to S$331 psf ppr, which is 3.2 percent and 4.4 percent higher than the next two bids. It is also 11.5 percent higher than the s...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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