Two freehold residential sites at Thiam Siew Avenue up for sale
Two free land housing sites at Thiam Siew Ave are available sale by public offer, having potential property developers containing the opportunity to acquire the locations collectively or singularly, reported special advertising rep Savills SGP.
Positioned just away from Tanjong Katong Road inside of prime District 15, the spots contain a combined acreage of about 2hundred 63thousand 7hundred 94 sq feet and are zoned for “Home” utilization within the 2K19 Master Plan with an allowed gross PR of Two point Eight.
The 135,359 square foot plot on the North contains a total gross floor area of 379,006 square foot and an approximation DC of $145.7 mil.
At the same time, the 1hundred 28thousand 4hundred 35 sq ft spot on the South comes with a total gross floor area of 359,618 sq feet plus an estimation development charge of $138.3 mil.
Integrating the 7 percent spot for verandas, the North allotment contains a top permissible gross floor area of 405,536 square foot whilst the gross floor size of the South piece is 3hundred 84thousand 7hundred 91 square ft. The estimation DC for patios sets at $20.2 million and $19.1 million, respectively.
Based on a standard size of 85 square m, the land plot on the North can easily fit approximately 414 home units, whilst the piece on the South can easily produce 393 units, based on the green light of relevant bodies.
Savills explained the spots “are situated amongst a well-known housing territory experiencing distance to a wide variety of amenities available at Katong precinct, that is wealthy in legacy, as well as the Paya Lebar Central precinct”.
The locations are certainly efficiently catered to by Dakota MRT Terminal along with Paya Lebar Interchange Mass Rapid Transit Terminal that are attached to almost all parts of S’pore via ECP and PIE.
Savills observed that the plots “are assured to take advantage of their neighboring distance to Paya Lebar Central district, Urban Redevelopment Authority’s number one Business Improvement District lead prog beyond the CBD”.
Savills Singapore’s Vice Managing Director for IS and Capital Markets Galven Tan explained developers can surely make the most on the plots superb credit to establish 1 or 2 high end skyscraper projects.
He continued the fact that the tender equally extends real estate investors deal trust since that it happens to be not subject to the consent of the STB.
The tender for the sites calls off on 18Nov.