Two freehold residential sites at Thiam Siew Avenue up for sale
Two freehold housing locations at Thiam Siew Avenue are available sale via communal offer, with potential developers holding the choice to purchase the spots jointly or singularly, broadcast private marketing and advertising agent Savills SGP.
Located just away from Tj Katong Rd inside excellent Area 15, the sites possess a joined acreage of approximately 2hundred 63thousand 7hundred 94 square foot also are zoned for “Residential” use beneath the 2019 Master Plan using an allowed gross PR of Two point Eight.
The 1hundred 35thousand 3hundred 59 square feet location on the North has a highest gross floor area of 379,006 sq foot as well as an estimation development fee of $145.7 million.
The 1hundred 28thousand 4hundred 35 sq foot plot on the South has a highest GFA of 359,618 sq foot along with an approximation dvlpmt charge of $138.3 mil.
Integrating the 7 percent space for verandas, the North parcel owns a top acceptable GFA of 405,536 square ft while the GFA of the South parcel is 3hundred 84thousand 7hundred 91 sq foot The estimation DC for terraces stands at $20.2 mil and $19.1 million, respectively.
Based on a standard specifications of Eighty Five square meter, the land parcel on the North can most likely fit almost 414 home units, whereas the parcel on the South can probably generate 3hundred 93 units, based on the endorsement of related authorities.
Savills explained the plots “are located among a recognized home territory taking pleasure in proximity to a selection of services accessible at Katong neighborhood, which is abundant in legacy, and the Paya Lebar Central neighborhood”.
The sites are really well provided by Dakota Mass Rapid Transit Station and Paya Lebar Interchange Mass Rapid Transit Station and are linked to almost all parts of Singapore by means of ECP and also Pan Island Expressway.
Savills considered in which the locations “are assured to profit from their nearby closeness to Paya Lebar Central area, Urban Redevelopment Authority’s first Biz Improvement District lead programme beyond the Central Biz District”.
Savills SGP’s Deputy MD for Investment Sales and Capital Markets Galven Tan claimed real estate investors may capitalise on the plots excellent features to create 1 or 2 enhanced high-rise properties.
He added the fact that the tender furthermore furnishes real estate investors deal trust given that it happens to be cleared to the endorsement of the Strata Titles Board.
The bid for the plots closes on 18Nov.