Short Term Office Site

2nd 15-yr lease office site at Tampines is up for sale to ease the office crunch.
Location: Tampines Ave 5, near Tampines Regional Center
Site Area: 1.15ha
Max GFA: 11 520 sm

The 1st site at Scotts Road received 11 bids and drew a top bid of $37m or $219 psf ppr.
Location: Scotts Rd, near Newton MRT
Site Area: 1.04ha
Max GFA: 15 666 sm

Expectations for Tampines site:
- Mr Donald Han, MD of Cushman & Wakefield: $17.3m - $20m (ie $140-$160 psf ppr)
- Mr Nicolas Mak, Dir of Knight Frank: $24.8m - $32.2m (ie $200 - $260 psf ppr)

* URA-Tampines *

*** Updated on 6 Nov 07 ***

Tampines site received only 1 bid of $10m ($80.6 psf ppr), way below the expectations.