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Woodlands Square Land Tender Draws 8 Bids

Posted by on in Singapore Land Sales
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Woodlands Square Land Tender Draws 8 Bids

The 99-year leasehold site at Woodlands Square was put up for tender in Dec 2013 and drew 8 bids from heavyweight Singapore property developers. The site has an area of over 199k sq ft and will yield a total of almost 700k ssft of gross floor area (GFA). It consists of 5 separate plots of land with two of them underground. At least 90% of this area must be dedicated to office space with the other 10% for childcare and F&B. Strata sale of the office units are allowed. The highest bid was by a consortium that Includes Far East Civil
Engineering and Sekisui House for $634 million or $902 pre square foot which was within the expected 500 to 1100psf range. The lowest bid of $308million was way below the leading bids. The high bids for this site shows that developers are positive about URA plans for the Woodlands area. In 1991, the concept of decentralized regional centers was introduced and Woodlands Regional Center one of its realizations. One of the objectives is to create a regional employment areas bringing jobs closer to home. There will be extensive pedestrian links to Causeway Point, Civic Cente, Woodlands MRT station and bus interchange and the upcoming Thomson Line MRT station.

More information about the URA's tender of this site and the intended land use can be found here:

http://www.ura.gov.sg/uol/media-room/news/2013/dec/pr13-86.aspx

 

Satellite Photo of Woodlands Square from Google Map:

woodlands square

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I am a professional real estate or property agent with the Huttons Realestate Group in Singapore. Huttons markets a great number of properties in Singapore including new condo launches and commercial properties as well as mixed developments.


I am a member of the Huttons sales team which means I can provide you with direct information on those properties. Contact me for invitations to VVIP previews during which you can get first hand information, a better choice of units and discounted prices before the official launch.