Woodleigh site attracts top bid of $700.7M

A unit of Chip Eng Seng Corp and Unique Real Estate has put in the top bid for a plum site in Woodleigh Lane. Unique Real Estate is a joint venture of Heeton Holdings and KSH Holdings units.

The 99-year leasehold site launched on May 30 under the confirmed list for the first half of this year drew a top bid of $700.7 million from CEL Unique Development, which is 60 per cent owned by Chip Eng Seng Corp, and 40 per cent by Unique Real Estate.

The Government land sales site tender attracted 15 bidders. The land is next to Woodleigh MRT station, adjacent to Bidadari New Town and near amenities such as Nex shopping mall. The 19,547 sq m site has a maximum gross floor area of 58,641 sq m.

The selling price of the proposed development to expected to range from $1,720 psf to $1,800 psf and could face some competition from the mixed-use site in Bidadari estate linked to Singapore Press Holdings and Kajima Development.

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