Two freehold residential sites at Thiam Siew Avenue up for sale
2 free lease non commercial spots at Thiam Siew Avenue are available purchase by means of communal tender, having perspective developers possessing the opportunity to acquire the spots on collaboration or individually, announced special marketing rep Savills SGP.
Standing just over Tj Katong Road among prime District Fifteen, the spots have a consolidated acreage of around 263,794 square foot and also are section for “Non commercial” use beneath the 2019 Master Plan including an allowed gross PR of Two point Eight.
The 1hundred 35thousand 3hundred 59 square ft spot on the North has a maximum GFA of 379,006 sq ft including an approximation dvlpmt fee of $145.7 mil.
The 1hundred 28thousand 4hundred 35 square ft spot on the South comes with a total gross floor area of 3hundred 59thousand 6hundred 18 sq ft and an approximation development fee of $138.3 mil.
Incorporating the Seven percentage space for patios, the North patch contains a total allowable gross floor size of 405,536 sq feet while at the same time the GFA of the South plot is 3hundred 84thousand 7hundred 91 square ft. The estimated DC for balconies remains at $20.2 million and $19.1 mil, each.
Based upon an average dimension of 85 sq m, the land patch on the North can most likely accommodate approximately 414 housing units, while at the same time the patch on the South can generate Three hundred Ninety Three units, subject to the authorization of relevant bodies.
Savills shared the sites “are snuggled amongst a well-known residential zone taking pleasure in closeness to a variety of conveniences accessible at Katong neighborhood, that is abundant in historical past, and also the Paya Lebar Central precinct”.
The spots are certainly satisfactorily served by Dakota MRT Terminal plus Paya Lebar Intersection MRT Station that are connected to every parts of Singapore using East Coast Parkway as well as PIE.
Savills noted in which the locations “are truly positioned to reward from their handy distance to Paya Lebar Central district, Urban Redevelopment Authority’s number one BID lead prog out of the Central Business District”.
Savills SGP’s Deputy Managing Director for IS and Capital Markets Galven Tan stated that property developers can capitalise on the plots outstanding attributes to build one or 2 high end skyscraper ventures.
He included that the tender likewise gives developers transaction certainty considering it is not subject to the endorsement of the STB.
The bid for the sites concludes on 18 Nov.