Two free lease housing plots at Thiam Siew Ave are available deal via public tender, having perspective property developers owning the option to get the plots collectively or independently, exposed special advertising specialist Savills SGP.
Found just away from Tj Katong Road among excellent District 15, the plots hold a joined acreage of around 263,794 square foot and also are sector for “Housing” usage under the 2019 Master Plan with an allowable gross PR of Two point Eight.
The 1hundred 35thousand 3hundred 59 square foot location on the North features a total GFA of 3hundred 79thousand 6 square feet along with an estimation DC of $145.7 mil.
The 128,435 square ft site on the South holds an optimum GFA of 3hundred 59thousand 6hundred 18 sq foot plus an estimated DC of $138.3 million.
Consistsing of the 7 percentage area for verandas, the North parcel has a highest allowable gross floor area of 4hundred 5thousand 5hundred 36 square foot while the GFA of the South plot is 384,791 sq feet The estimation dvlpmt charge for verandas remains at $20.2 million and $19.1 million, specifically.
Based upon an average size of Eighty Five sq meter, the land plot on the North can integrate around 414 residence units, while the plot on the South can easily produce 393 units, conditional the validation of appropriate powers.
Savills mentioned the sites “are nestled among a well established residential district enjoying distance to a huge selection of services available at Katong area, which is abundant in ancestry, and the Paya Lebar Central district”.
The spots are certainly satisfactorily offered by Dakota Train Station including Paya Lebar Interchange MRT Station and even are networked to entire sides of SGP using ECP plus PIE.
Savills noticed in which the plots “are actually assured to gain from their neighboring proximity to Paya Lebar Central precinct, Urban Redevelopment Authority’s first BID preliminary prog beyond the Central Business District”.
Savills SGP’s Vice Managing Dir for IS and Capital Markets Galven Tan claimed real estate investors may capitalise on the sites superb features to establish 1 or 2 elegant high-rise projects.
He continued the fact that the tender also grants developers transaction trust considering that it is not subject to the endorsement of the STB.
The tender for the spots shuts on 18November.