Two freehold residential sites at Thiam Siew Avenue up for sale
Two freehold residential locations at Thiam Siew Ave are up for sale by communal tender, having prospective property developers having the opportunity to acquire the locations on collaboration or independently, disclosed unique promoting and marketing representative Savills Singapore.
Situated just over Tanjong Katong Rd inside of prime Area 15, the sites contain a consolidated acreage of roughly 2hundred 63thousand 7hundred 94 sq ft and also are zoned for “Residential” application beneath the ’19 Master Plan using an allowed gross PR of 2.8.
The 135,359 sq feet site on the North has a top GFA of 3hundred 79thousand 6 square ft and an estimated development charge of $145.7 million.
The 128,435 sq feet site on the South holds an optimum GFA of 3hundred 59thousand 6hundred 18 sq feet including an estimation dvlpmt fee of $138.3 million.
Encompassing the 7 % capacity for patios, the North allotment owns an optimum acceptable GFA of 405,536 sq ft while the gross floor area of the South patch is 384,791 sq foot The approximation DC for verandas remains at $20.2 million and $19.1 million, each.
Based on a typical measurement of Eighty Five square metre, the land patch on the North can most likely suit around 4hundred 14 home units, whereas the parcel on the South can most likely generate 393 apartments, dependent on the validation of relevant authorities.
Savills stated that the plots “are snuggled among a recognized non commercial zone enjoying closeness to a variety of amenities readily available at Katong precinct, which is elaborate in legacy, and the Paya Lebar Central area”.
The plots are well provided for by Dakota Train Terminal including Paya Lebar Intersection MRT Terminal that are linked up to almost all areas of Singapore using East Coast Parkway as well as Pan Island Expressway.
Savills indicated that the spots “are poised to gain from their close vicinity to Paya Lebar Central district, Urban Redevelopment Authority’s number one Business Improvement District pilot prog outside the Central Business District”.
Savills Singapore’s Deputy MD for IS and Capital Markets Galven Tan explained property developers can take advantage on the locations exceptional credit to put together one or 2 upscale skyscraper projects.
He included that the tender furthermore presents property developers transaction positiveness considering it happens to be excluded to the approval of the STB.
The tender for the sites terminates on 18Nov.