Bartley Road / Lorong How Sun residential site sold for $413.27mn

The site, which can house up to 620 high-rise condominiums, was offered for sale on a 99-year lease term.

The residential site at Bartley Road / Lorong How Sun was launched for public tender on 10 February 2011. It was originally on the Reserve List of the Government Land Sales Programme. URA had, on 18 January 2011 accepted a successful application for the site to be put up for sale.

CBRE Executive Director, Li Hiaw Ho noted, the residential site at Bartley Road/Lorong How Sun is adjacent to Bartley MRT station of the Circle Line. Its neighbourhood comprises private landed homes and low-rise apartments. The Maris Stella High School is situated opposite the site across Bartley Road.

He also said, "the number and quantum of bids garnered by the site testified to developers’ keenness to acquire sites that are located close to MRT stations. Nin Residence, a new condominium located at Potong Pasir MRT Station, was launched at $1,250 psf in December 2010. To date, the 219-unit project is about 50% sold. We expect units in the new residential project on the subject site to fetch prices at about the same level".

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