Analysts polled by BT have predicted zero to four bids for the site, with the highest bid projected to be in the S$925-S$1,150 psf ppr range
[SINGAPORE] No bids were received for a 99-year leasehold private residential site in the Mediapolis area of the one-north precinct at a state tender for the site closed on Tuesday (Apr 29).
Zoned residential with commercial at first storey, the plot can yield about 500 private homes. The commercial component is capped at 4,306 square feet gross floor area.
Analysts polled by The Business Times had predicted zero to four bids for the site, with the highest bid projected to be in the S$925-S$1,150 per square foot per plot ratio (psf ppr) range.
Analysts have pointed to site-specific reasons – the plot is not near an MRT station, as well as private housing supply from sites already sold in Media Circle including the 358-unit Bloomsbury Residences launched earlier this month and the estimated 325 units that could be yielded from the Media Circle (Parcel A) awarded in March this year.
The tender was conducted by the Urban Redevelopment Authority.
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