The 99 year leasehold parcel in Northumberland Road, near Little India was the first residential government land sales (GLS) for 2021 that attracted 10 bids and a robust price that showed developers’ hunger for land. City Development Limited (CDL) and joint venture partner MCL Land were elated to be the top bidder at $445.9 million.
The site can be developed into an integrated development comprising of 408 residential units of up to 23 storeys and commercial retail space that includes an infant care and childcare centre.
Piccadilly Grand may be launched at between $1,900 to $2,100 psf.
Source: Straits Times
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