Two freehold residential sites at Thiam Siew Avenue up for sale
2 free lease non commercial locations at Thiam Siew Avenue are up for deal by communal tender, with prospective developers coming with the choice to get hold of the spots collectively or personally, reported exclusive promoting and marketing rep Savills SGP.
Positioned just off Tanjong Katong Rd inside of prime District 15, the plots have a consolidated land area of around 2hundred 63thousand 7hundred 94 square ft also are sector for “Home” utilization under the ’19 Master Plan by having an allowable gross PR of Two point Eight.
The 1hundred 35thousand 3hundred 59 sq foot spot on the North contains a total gross floor area of 379,006 square foot as well as an estimation dvlpmt fee of $145.7 mil.
Meanwhile, the 1hundred 28thousand 4hundred 35 sq feet plot on the South features a total GFA of 3hundred 59thousand 6hundred 18 sq feet as well as an estimation DC of $138.3 million.
Incorporating the 7 percent capacity for patios, the North piece comes with an optimum allowable GFA of 405,536 sq foot while at the same time the GFA of the South parcel is 3hundred 84thousand 7hundred 91 square foot The estimation DC for terraces sets at $20.2 mil and $19.1 million, respectively.
Based on a regular scale of Eighty Five sq m, the land patch on the North can most likely fit nearly Four hundred Fourteen home units, whilst the parcel on the South can generate 3hundred 93 apartments, based on the validation of relevant powers.
Savills claimed the spots “are nestled inside a well-known non commercial district taking pleasure in vicinity to a wide variety of services readily available at Katong area, that is lush in culture, plus the Paya Lebar Central district”.
The locations are generally well catered to by Dakota Train Station and Paya Lebar Intersection Train Station and are linked to every areas of Singapore through East Coast Parkway and Pan Island Expressway.
Savills mentioned that the locations “are actually poised to profit from their neighboring vicinity to Paya Lebar Central district, Urban Redevelopment Authority’s very first BID preliminary prog out of the Central Business District”.
Savills S’pore’s Deputy Managing Director for Investment Sales and Capital Markets Galven Tan stated that developers are able to capitalise on the sites outstanding features to cultivate a couple of upscale high-rise projects.
He continued the fact that the tender additionally extends property developers deal certainty considering that it happens to be not subject to the approval of the STB.
The tender for the locations calls off on 18November.