Freehold residential site in Bukit Batok on the market for $42 mil

Low Choon Sin, supervising companion at SRI Capital Market, mentions that the site’s area beside the Bukit Batok Nature Park will provide developers with a chance to redevelop the site into a shop development that appreciates lush plant sights and a wide front view of roughly 120m.

A single-storey car workshop with a three-storey annex structure presently remains on the site. The property is leased to Autobacs Singapore, a Japanese auto firm.

A check on EdgeProp LandLens presents that there are just 308 condominium units offered within a 500m span of the location around 2 properties – Park Natura which has 192 units as well as Sherwood Condo which has 116 units.

“There is quite limited personal residential development along Bukit Batok East Avenue 6, where Park Natura Condo is possibly the only development along the road that was finalized more than one decade ago,” Low adds.

Bruce Lye, watching over affiliate at SRI, projects the site to attract solid attention from builders, provided the rare supply of personal property land in the Bukit Batok area. “Both the cost quantum of the site and also the potential variety of new units that can be developed are within the nice place,” he says. Based on appropriate authorities’ approval, a new domestic advancement can potentially generate 57 new residence units based upon the current URA guidelines.

Leedon Green showflat location

According to exclusive marketing agent SRI, the guide price for the site turns out to a land charge of concerning $1,127 psf per plot proportion, taking into consideration the bonus porch GFA and also the advancement charge payable.

The public tender exercise for the development will certainly close on Sept 21 at 3.30 pm.

The site figures approximately 37,575 sq ft feet and also is zoned for domestic usage with an allowable plot ratio of 1.4. The utmost permissible gross floor area (GFA) is around 56,287 sq ft, inclusive of extra porch area.

In addition, Lye mentions that the building has a solitary owner, which will certainly provide certainty to the purchase as well as timeline.

An estate household site at 30 Bukit Batok East Avenue 6, off Old Jurong Road as well as Upper Bukit Timah Road, is up for sale using public tender with a guide price of $42 million.

Within a wider 1km distance, current release consist of the 633-unit Forett @ Bukit Timah by Qingjian Realty (South Pacific Group) and Prennial Real Estate Holdings which started in August 2020 and has seen over 600 units used up to date at an ordinary cost of around $1,982 psf. One more advancement, the 258-unit Verdale, additionally introduced in Sept 2020 by joint developers COLI Singapore as well as CSC Land Group. The property has actually since sold out, with rates averaging at approximately $1,800 psf.

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