Owners of the estate, which was privatised in 2014, are expecting offers in the range of S$400 to S$430 million for the property. Developers would have to fork out an additional S$200 to S$220 million for intensification of the site, as well as a top-up for a fresh 99-year lease.
The estate comprises 244 units in three blocks of 13-storey and four blocks of four-storey walk-up apartments, ERA said.
Each unit is expected to receive between S$1.6 million and S$1.7 million from the sale, ERA said. The estate has 69 years left on its lease.