{"id":83221,"date":"2018-03-20T21:24:12","date_gmt":"2018-03-20T14:24:12","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/holland-road-site-attracts-15-bids\/"},"modified":"2018-03-20T22:05:12","modified_gmt":"2018-03-20T15:05:12","slug":"holland-road-site-attracts-15-bids","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/holland-road-site-attracts-15-bids\/","title":{"rendered":"Holland Road site attracts 15 bids"},"content":{"rendered":"


\nMap showing the location of the land parcel at Holland Road. Source: URA
\nThe tender for a plum commercial and residential site at Holland Road closed on Tuesday (20 Mar) after attracting strong interest from developers.
\nA total of 15 bids were submitted for the approximately 247,214 sq ft site, which was launched for sale by the Urban Redevelopment Authority (URA) via the dual-envelope concept and price tender system on 30 November 2017.
\nMore: URA launches two sites at Mattar Road and Silat Avenue, could yield 1,375 homes
\nSeveral big-name developers formed joint ventures to bid for the site, including City Developments Limited which teamed up with RB Capital. There were also multiple bids with different concept proposals.
\nOnly the envelopes containing concept proposals were opened today, and will be first evaluated by a Concept Evaluation Committee based on several criteria including design concept, quality of public realm and track record.
\nAcceptable concept proposals will then move onto the second stage, where URA will review the price envelopes. The site will then be awarded to the tenderer with the highest bid price. \u00a0
\nThe site has a maximum gross floor area of 642,766 sq ft, of which about 145,312 sq ft has been set aside as retail space. Offered on a 99-year lease, it could yield 570 housing units.
\nThe land parcel is located close to Holland Village MRT station, Holland Village Market & Food Centre and schools.
\n\u201cThe future development is envisioned to build on and reinforce the continued success of Holland Village through enhancing the area\u2019s buzz with more activity generating uses such as retail and dining options and providing more residences in the heart of Holland Village,\u201d URA said in an earlier release.
\nAnalysts were not surprised by the overwhelming response to the tender given the attractiveness of the site and the upturn in the property market.
\n\u201cThe huge capital outlay with a land price possibly exceeding $1 billion and the necessary experience in developing and managing the non-residential component would have led to the tie-ups,\u201d said Ong Teck Hui, national director, research & consultancy at JLL.
\nHe added: \u201cThe fact that four bidders submitted multiple bids shows their earnestness in trying to secure the site.\u201d
\nDesmond Sim, CBRE research head for Singapore and Southeast Asia, said: \u201cThe site\u2019s iconic location (as part of the Holland Village masterplan) spurred some firms to put in more than one bid, through joint ventures and consortiums.
\n\u201cThe tender drew added interest because of the weightage placed on the concepts and designs proposed and the ability to integrate the existing businesses together with the new-build environment.\u201d
\nURA said a decision on the award of the tender will be made after the tenders have been evaluated.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Holland Road site attracts 15 bids<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Map showing the location of the land parcel at Holland Road. Source: URA The tender...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-83221","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-lEh","jetpack-related-posts":[{"id":87072,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hillview-rise-site-attracts-nine-bids\/","url_meta":{"origin":83221,"position":0},"title":"Hillview Rise site attracts nine bids","date":"May 4, 2018","format":false,"excerpt":"\r Aerial view of the residential site at Hillview Rise. 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The 99-year leasehold site with a maximum gross floor area of 842,125\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88547,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/holland-road-site-awarded-to-far-east-led-consortium-for-1-21b\/","url_meta":{"origin":83221,"position":3},"title":"Holland Road site awarded to Far East-led consortium for $1.21b","date":"May 17, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the future mixed-use development near Holland Village. 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