Tender for a 99-yr LH white site above Serangoon MRT closed yesterday, with the highest bid at $800.9m, which surpassed expectations. With a GFA of 87,527 sm, this equates to about $850 psf.
A mall is likely to be developed there as it would bring the highest profit margin. With a net lettable area of about 600k sf, ave gross rent would be around $14 psf. The development will have to integrate with a new bus interchange and the MRT station.
* AsiaOne-S'goon *
Thursday, March 27, 2008
A New Mall In Serangoon Soon?
Labels:
Commercial,
Singapore
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