The Garden Residences @ Serangoon North Ave 1 (D19)
The public tender for a private residential site in Serangoon North Avenue 1 attracted 16 bids.
On 27 July 2017, Corson and Wingjoy Investment - units of Keppel Land and Wing Tai Holdings - jointly placed the top bid of $446.28 million.
The price works out to about $964.8 per sq ft per plot ratio for the 99-year leasehold plot, which could yield 505 private homes. Estimated selling price will be between S$1,650 to $1,750 psf.
The top bid was about 6.6 per cent higher than the second of $418.7 million tabled by FCL Residences.
Singland Homes and UOL Venture Investments jointly submitted the third highest bid at $417.2 million.
The site has a land area of 17,189.1 sq m and permissible gross floor area of 42,973 sq m.
The current project Forest Woods, 6 mins walk to Serangoon MRT station & NEX mega mall which is selling at average S$1,407 psf.
Serangoon North Ave 1 Location :
The large 1.7ha site is well-connected to other parts of Singapore via the Central Expressway (CTE).
Residents can enjoy a wide range of amenities at Chomp Chomp Food Centre, Serangoon Garden Market and Nex mega mall.
Within reach is a variety of established local and international schools such as Serangoon Garden Secondary School, Rosyth School, Nanyang Junior College and Lycee Francais De Singapour.
Keppel Land is the property arm of the Keppel Group, one of Singapore's largest multinational groups with key businesses in offshore and marine, property, infrastructure and investments.
One of Asia's premier property companies, Keppel Land is recognised for its sterling portfolio of award-winning residential developments and investment-grade commercial properties as well as high standards of corporate governance and transparency.
Wing Tai was founded in 1955 in Hong Kong and incorporated in Singapore on 9 August 1963. Today, Wing Tai Holdings Limited is Singapore's leading property developer and lifestyle company. Listed on the Singapore Stock Exchange since 1989, it is an investment holding company with a key focus on growth markets in Asia, with assets exceeding S$4.9 billion. Through a network of companies under the Wing Tai Asia brand, viz. Wing Tai Holdings Limited (Singapore), Wing Tai China Pte Ltd, Wing Tai Malaysia Berhad (Malaysia), Wing Tai Properties Limited (Hong Kong) and their subsidiaries, Wing Tai Asia has core businesses in property investment and development, fund management, lifestyle retail and hospitality management in key Asian markets.