The site has the potential for a top bid of $834 million, translating to $1,600 per square foot per plot ratio.
Computed from the date of acceptance of the tender by the Authority up to date of issue of Temporary Occupation Permit for the whole of the proposed development.
Tricia Song, Colliers’ Head of Research for Singapore said: “It is also near the Beach Road area which is being rejuvenated, with the upcoming integrated Guoco Midtown development, and newly completed mixed-use projects such as DUO and South Beach. This site will contribute to the ongoing makeover in Beach Road and offer private housing to support the growing commercial enclave in the area.”
“This would give the developer a freer hand in crafting the unit-mix at the future development,” said Song. Adding: “Taking a leaf from the response to the public tender for the nearby Middle Road site , we expect similarly healthy interest for the Tan Quee Lan Street plot.”Colliers projects that the Tan Quee Lan Street GLS tender site could attract 10 or more bidders, with a potential top bid of SGD834 million, translating to SGD1,600 per square foot per plot ratio .
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