Two freehold residential sites at Thiam Siew Avenue up for sale
2 lease free non commercial locations at Thiam Siew Avenue are up for deal via communal tender, with possible developers owning the option to acquire the plots jointly or independently, exposed special advertising professional Savills S’pore.
Placed just off Tj Katong Road amongst top District 15, the spots come with a consolidated land size of almost 263,794 sq foot and also are sector for “Housing” application under the 2019 Master Plan using an allowable gross PR of 2.8.
The 135,359 square ft plot on the North possesses an optimum gross floor area of 3hundred 79thousand 6 sq feet plus an estimated DC of $145.7 mil.
The 128,435 square ft location on the South holds a top gross floor area of 3hundred 59thousand 6hundred 18 square foot including an approximation dvlpmt charge of $138.3 mil.
Integrating the 7 % spot for terraces, the North allotment contains a maximum permitted gross floor size of 4hundred 5thousand 5hundred 36 sq foot whereas the gross floor size of the South allotment is 3hundred 84thousand 7hundred 91 square foot The estimation development charge for balconies sets at $20.2 million and $19.1 mil, each.
Based on a standard dimension of Eighty Five square metre, the land allotment on the North can easily integrate around 4hundred 14 housing units, whilst the piece on the South can probably generate 3hundred 93 apartments, dependent on the approval of related authorities.
Savills explained the locations “are located among a recognized residence zone experiencing vicinity to a myriad of features readily available at Katong district, which is rich in legacy, including the Paya Lebar Central precinct”.
The sites are certainly properly provided for by Dakota MRT Terminal and also Paya Lebar Interchange MRT Station that are networked to almost all sides of SGP using ECP and PIE.
Savills considered in which the sites “are actually poised to profit from their close closeness to Paya Lebar Central district, URA’s first Business Improvement District lead program outside the CBD”.
Savills SGP’s Deputy MD for IS and Capital Markets Galven Tan stated real estate investors are able to take advantage on the locations fantastic credit to produce a couple of elegant high-rise properties.
He continued the fact that the tender also offers real estate investors deal assurance due to the fact that it is cleared to the consent of the STB.
The tender for the spots concludes on 18 Nov.