Two freehold residential sites at Thiam Siew Avenue up for sale
Two free land residential sites at Thiam Siew Ave are available sale by means of communal offer, having prospective property developers containing the option to purchase the plots collectively or singularly, reported special marketing and advertising representative Savills SGP.
Located just off Tj Katong Road within top Area 15, the locations own a merged acreage of almost 2hundred 63thousand 7hundred 94 sq ft also are zoned for “Housing” usage beneath the ’19 Master Plan with a permitted gross parcel ratio of Two point Eight.
The 1hundred 35thousand 3hundred 59 square feet spot on the North comes with a top gross floor area of 3hundred 79thousand 6 sq feet including an estimation dvlpmt fee of $145.7 million.
On the other hand, the 1hundred 28thousand 4hundred 35 square foot spot on the South holds a highest gross floor area of 3hundred 59thousand 6hundred 18 sq feet including an approximation DC of $138.3 million.
Incorporating the 7 percentage area for patios, the North patch possesses a top permissible gross floor area of 4hundred 5thousand 5hundred 36 square feet while at the same time the GFA of the South parcel is 384,791 square foot The estimated DC for patios stands at $20.2 million and $19.1 million, each.
Based upon an average specifications of Eighty Five square m, the land plot on the North can easily fit roughly 4hundred 14 home units, while the allotment on the South can probably grant 393 apartments, conditional the consent of related authorities.
Savills explained the sites “are situated around a well established residence district experiencing distance to a selection of features accessible at Katong neighborhood, which is rich in heritage, including the Paya Lebar Central area”.
The sites are generally well provided by Dakota MRT Station along with Paya Lebar Intersection Train Station and even are joined to every parts of SGP by means of ECP furthermore PIE.
Savills considered in which the sites “are actually positioned to gain from their immediate distance to Paya Lebar Central precinct, Urban Redevelopment Authority’s number one Business Improvement District pilot prog out of the Central Biz District”.
Savills Singapore’s Vice MD for IS and Capital Markets Galven Tan said property developers are able to take advantage on the plots amazing credit to generate 1 or 2 enhanced skyscraper ventures.
He continued that the tender additionally extends property developers transaction certainty as that it is not subject to the green light of the STB.
The tender for the sites shuts on 18Nov.