Two freehold residential sites at Thiam Siew Avenue up for sale
2 free land home spots at Thiam Siew Avenue are available sale via communal offer, with perspective property developers containing the alternative to obtain the locations jointly or individually, communicated special marketing and advertising specialist Savills SGP.
Standing just away from Tanjong Katong Rd found in excellent Area Fifteen, the spots own a merged land area of about 2hundred 63thousand 7hundred 94 square feet and also are zoned for “Housing” usage within the ’19 Master Plan with a permitted gross PR of 2.8.
The 1hundred 35thousand 3hundred 59 square feet plot on the North has a top GFA of 379,006 sq feet plus an estimated DC of $145.7 million.
On the other hand, the 128,435 sq feet spot on the South possesses a total gross floor area of 359,618 sq feet including an estimation development fee of $138.3 mil.
Integrating the Seven percentage space for verandas, the North parcel comes with a total allowable gross floor area of 405,536 sq feet whilst the gross floor area of the South parcel is 384,791 sq foot The estimated DC for balconies stands at $20.2 million and $19.1 mil, each.
Based on a typical specifications of Eighty Five square meter, the land patch on the North can most likely integrate almost Four hundred Fourteen home units, whilst the patch on the South can probably yield Three hundred Ninety Three apartments, dependent on the endorsement of appropriate powers.
Savills explained the sites “are nestled inside of an established residence enclave appreciating closeness to a myriad of amenities readily available at Katong area, that is lush in ancestry, including the Paya Lebar Central neighborhood”.
The sites are certainly effectively offered by Dakota Mass Rapid Transit Station and also Paya Lebar Intersection Mass Rapid Transit Station that are connected to all areas of SGP through ECP as well as Pan Island Expressway.
Savills noticed in which the sites “are truly poised to profit from their close proximity to Paya Lebar Central neighborhood, URA’s first BID pilot prog out of the Central Business District”.
Savills Singapore’s Deputy MD for Investment Sales and Capital Markets Galven Tan claimed developers are able to take advantage on the sites amazing characteristics to put together a couple of high end high-rise projects.
He included that the tender also offers developers transaction trust as that it happens to be excluded to the consent of the STB.
The tender for the locations wraps up on 18November.