Freehold residential site in Bukit Batok on the market for $42 mil
According to unique advertising representative SRI, the guide rate for the site calculates to a land rate of about $1,127 psf per plot proportion, considering the bonus porch GFA and the development fee payable.
Bruce Lye, watching over partner at SRI, anticipates the site to draw strong attention from developers, provided the uncommon supply of private non commercial land in the Bukit Batok area. “Both the price quantum of the site as well as the possible variety of brand-new units that can be established are within the nice place,” he states. Subject to applicable authorities’ authorization, a new domestic growth might potentially produce 57 brand-new house units based upon the latest URA standards.
“There is very restricted personal property project along Bukit Batok East Avenue 6, where Park Natura Condominium is most likely the only property along the road that was finalized more than one decade ago,” Low adds.
A single-storey vehicle workshop with a three-storey annex structure currently remains on the site. The building is rented to Autobacs Singapore, a Japanese automobile company.
A check on EdgeProp LandLens reveals that there are merely 308 apartment units offered within a 500m radius of the site around 2 projects – Park Natura which has 192 units and also Sherwood Condo which has 116 units.
The public tender exercise for the property will close on Sept 21 at 3.30 pm.
Low Choon Sin, supervising companion at SRI Capital Market, indicates that the site’s location beside the Bukit Batok Nature Park will certainly offer developers with a chance to redevelop the site right into a shop project that enjoys rich greenery sights and also a large frontage of about 120m.
A freehold household site at 30 Bukit Batok East Avenue 6, off Old Jurong Road and also Upper Bukit Timah Road, is up for sale through public tender with an overview price of $42 million.
Mori Condo Roxy Pacific Holdings Limited
The site measures about 37,575 sq ft feet and is zoned for residential use with a permitted plot proportion of 1.4. The highest permissible gross floor area (GFA) is around 56,287 sq ft, inclusive of extra veranda space.
In addition, Lye mentions that the building has a solitary owner, which will certainly provide assurance to the deal and also timeline.
Within a broader 1km radius, recent release include the 633-unit Forett @ Bukit Timah by Qingjian Real Estate (South Pacific Group) as well as Prennial Real Estate Holdings which released in August 2020 as well as has seen over 600 units taken up to date at an ordinary price of around $1,982 psf. Another advancement, the 258-unit Verdale, additionally introduced in Sept 2020 by joint developers COLI Singapore and also CSC Land Group. The project has since sold out, with prices averaging at about $1,800 psf.
