Two freehold residential sites at Thiam Siew Avenue up for sale
Two freehold residential locations at Thiam Siew Ave are available sale via communal tender, with possible property developers possessing the choice to get hold of the sites on collaboration or independently, reported special advertising agent Savills Singapore.
Standing just away from Tj Katong Rd found in prime District Fifteen, the plots come with a consolidated land area of about 263,794 sq foot and are sector for “Home” purpose under the 2019 Master Plan with an allowable gross piece ratio of 2.8.
The 135,359 sq feet spot on the North possesses a highest GFA of 3hundred 79thousand 6 square foot as well as an estimation DC of $145.7 million.
The 1hundred 28thousand 4hundred 35 sq ft site on the South owns an optimum GFA of 3hundred 59thousand 6hundred 18 sq feet plus an estimation dvlpmt fee of $138.3 million.
Including the Seven % area for balconies, the North allotment holds a maximum acceptable gross floor size of 405,536 square ft whilst the gross floor area of the South patch is 3hundred 84thousand 7hundred 91 sq ft. The estimated DC for patios positions at $20.2 mil and $19.1 million, respectively.
Based on an average specifications of Eighty Five square meter, the land plot on the North can most likely accommodate about 4hundred 14 residence units, whereas the piece on the South can easily generate Three hundred Ninety Three apartments, conditional the validation of relevant powers.
Savills revealed the plots “are situated inside an established residence zone appreciating vicinity to a wide variety of features accessible at Katong area, which is valuable in ancestry, and also the Paya Lebar Central precinct”.
The sites are really adequately served by Dakota Mass Rapid Transit Terminal and Paya Lebar Intersection Train Terminal and even are joined to every parts of S’pore through ECP and Pan Island Expressway.
Savills noted that the sites “are actually poised to gain from their close closeness to Paya Lebar Central area, Urban Redevelopment Authority’s first BID lead prog beyond the CBD”.
Savills S’pore’s Vice MD for IS and Capital Markets Galven Tan claimed property developers can surely make the most on the sites exceptional qualities to establish a couple of elegant skyscraper projects.
He further mentioned the fact that the tender furthermore offers developers transaction certainty considering that it happens to be not subject to the approval of the Strata Titles Board.
The tender for the locations shuts on 18 November.