Two freehold residential sites at Thiam Siew Avenue up for sale
2 free land residence locations at Thiam Siew Avenue are available purchase by public offer, with potential developers featuring the opportunity to obtain the sites collectively or independently, reported exclusive advertising and marketing agent Savills S’pore.
Placed just off Tanjong Katong Rd within prime District 15, the sites hold a joined acreage of roughly 2hundred 63thousand 7hundred 94 square foot also are sector for “Non commercial” application within the 2K19 Master Plan including an allowed gross patch ratio of Two point Eight.
The 135,359 square foot spot on the North holds a highest GFA of 3hundred 79thousand 6 sq ft and an estimation development fee of $145.7 mil.
Meanwhile, the 128,435 sq ft spot on the South possesses a highest GFA of 359,618 square foot and an approximation DC of $138.3 million.
Integrating the 7 percentage capacity for balconies, the North allotment holds a highest permitted gross floor area of 4hundred 5thousand 5hundred 36 square feet while the GFA of the South plot is 3hundred 84thousand 7hundred 91 square feet The estimation dvlpmt charge for terraces sets at $20.2 million and $19.1 mil, each.
Depended on a regular specifications of 85 square meter, the land piece on the North can easily suit roughly Four hundred Fourteen house units, whilst the parcel on the South can produce 393 apartments, dependent on the approval of related powers.
Savills said the locations “are snuggled around a reputable home area relishing vicinity to a plethora of facilities offered at Katong neighborhood, which is abundant in legacy, including the Paya Lebar Central precinct”.
The sites are really effectively provided by Dakota MRT Terminal including Paya Lebar Interchange MRT Terminal and even are linked to all parts of Singapore using East Coast Parkway plus Pan Island Expressway.
Savills noticed in which the sites “are actually positioned to profit from their close distance to Paya Lebar Central district, Urban Redevelopment Authority’s original Biz Improvement District pilot prog away from the CBD”.
Savills S’pore’s Vice MD for IS and Capital Markets Galven Tan reported real estate investors are able to make the most on the spots exceptional credit to put together one or two elegant skyscraper projects.
He said further the fact that the tender also gives developers transaction trust considering that it is excluded to the validation of the STB.
The bid for the locations calls off on 18November.