Two freehold residential sites at Thiam Siew Avenue up for sale
2 freehold home locations at Thiam Siew Ave are up for deal by means of communal tender, with potential property developers coming with the option to secure the plots on collaboration or personally, reported unique marketing agent Savills S’pore.
Standing just off Tj Katong Road found in prime District 15, the sites own a joined acreage of approximately 2hundred 63thousand 7hundred 94 square foot and also are section for “Residential” purpose under the 2K19 Master Plan with an allowable gross parcel ratio of Two point Eight.
The 135,359 square foot site on the North features a highest GFA of 379,006 square feet plus an approximation dvlpmt fee of $145.7 mil.
On the other hand, the 1hundred 28thousand 4hundred 35 sq ft spot on the South owns a top gross floor size of 359,618 square feet and an approximation development fee of $138.3 mil.
Including the Seven percentage spot for verandas, the North allotment possesses a top allowable gross floor area of 405,536 square ft while at the same time the GFA of the South allotment is 384,791 square ft. The estimated DC for balconies remains at $20.2 million and $19.1 mil, respectively.
Based upon a regular size of 85 square m, the land plot on the North can most likely fit approximately 414 home units, whilst the plot on the South can produce 393 units, subject to the validation of appropriate bodies.
Savills mentioned the locations “are snuggled amongst a reputable residence district delighting in closeness to a range of amenities accessible at Katong precinct, which is lush in ancestry, and also the Paya Lebar Central precinct”.
The sites are certainly effectively offered by Dakota Train Terminal including Paya Lebar Intersection Train Terminal and even are connected to all parts of SGP via East Coast Parkway and PIE.
Savills observed that the spots “are actually poised to gain from their neighboring closeness to Paya Lebar Central neighborhood, Urban Redevelopment Authority’s very first BID pilot prog beyond the CBD”.
Savills SGP’s Deputy Managing Director for Investment Sales and Capital Markets Galven Tan stated that developers can make the most on the locations fantastic credit to create 1 or two high end high-rise properties.
He included that the tender equally presents real estate investors transaction positiveness considering that it happens to be excluded to the consent of the STB.
The tender for the spots closes on 18 Nov.