Freehold residential site in Bukit Batok on the market for $42 mil

A check on EdgeProp LandLens presents that there are only 308 apartment units available within a 500m radius of the location throughout 2 projects – Park Natura which has 192 units and also Sherwood Residence which has 116 units.

Low Choon Sin, managing partner at SRI Capital Market, mentions that the site’s location beside the Bukit Batok Nature Park will certainly provide developers with an opportunity to redevelop the site right into a boutique development that appreciates lush plant sights and also a large frontage of around 120m.

Within a wider 1km distance, recent launches consist of the 633-unit Forett @ Bukit Timah by Qingjian Real Estate (South Pacific Group) as well as Prennial Real Estate Holdings which started in August 2020 as well as has seen over 600 units used up to day at an ordinary price of around $1,982 psf. An additional growth, the 258-unit Verdale, also introduced in Sept 2020 by joint developers COLI Singapore and also CSC Land Group. The property has actually since sold out, with values equating at about $1,800 psf.

The site measures about 37,575 sq ft feet and is zoned for residential usage with a permitted plot ratio of 1.4. The maximum permissible gross floor area (GFA) is around 56,287 sq ft, inclusive of extra veranda room.

19 Nassim showflat

“There is quite minimal exclusive property development along Bukit Batok East Avenue 6, where Park Natura Condominium is most likely the only project along the road that was finalized greater than ten years back,” Low includes.

Bruce Lye, managing partner at SRI, expects the site to pull good interest from developers, given the rare supply of private property land in the Bukit Batok neighbourhood. “Both the cost quantum of the site and also the possible variety of new units that can be developed are within the delightful place,” he claims. Subject to appropriate authorities’ approval, a new property growth might potentially yield 57 new residence units based upon the most up to date URA guidelines.

A freehold domestic site at 30 Bukit Batok East Avenue 6, off Old Jurong Road and also Upper Bukit Timah Road, is up for sale through public tender with a guide cost of $42 million.

On top of that, Lye points out that the residence has a solitary proprietor, which will certainly provide certainty to the transaction as well as timeline.

A single-storey car workshop with a three-storey annex building presently rests on the site. The building is leased to Autobacs Singapore, a Japanese vehicle firm.

The general public tender exercise for the property will certainly close on Sept 21 at 3.30 pm.

According to special promotion agent SRI, the guide price for the site turns out to a land price of concerning $1,127 psf per plot proportion, considering the bonus balcony GFA and the development charge payable.

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