A condominium plot on Serangoon Avenue 3 has been made available for sale. The 3.43-acre plot is expected to be well received despite the lacklustre market, due to its choice location.

The plot sits next to the Lorong Chuan MRT station on the new Circle Line and is adjacent to Nanyang Junior College. It is also within the vicinity of other schools such as St Gabriel’s Primary and Australian International School, and close to Serangoon Gardens, Chomp Chomp food centre and a mega mall in the future Serangoon Hub.

Bids for the site are expected to fall between S$83 million and S$107 million, or S$200 to S$255 psf of potential gross floor area. A new condominium on the site could possibly host 350 to 400 units sized between 1,000 sq ft and 1,200 sq ft each.

The government had announced that the site was open for applications by interested buyers. If a developer submits a minimum acceptable bid, it will trigger a public tender for others to submit offers.