Two freehold residential sites at Thiam Siew Avenue up for sale

Two free land non commercial spots at Thiam Siew Ave are up for deal by communal offer, with prospective developers owning the choice to obtain the plots on collaboration or individually, exposed private advertising rep Savills SGP.

The Commodore Floor Plan

Standing just away from Tj Katong Rd within top Area 15, the locations contain a combined acreage of roughly 2hundred 63thousand 7hundred 94 square feet and also are section for “Non commercial” utilization beneath the 2019 Master Plan using an authorised gross PR of 2.8.

The 1hundred 35thousand 3hundred 59 sq ft plot on the North features a highest GFA of 379,006 square feet along with an estimation dvlpmt fee of $145.7 million.

Subsequently, the 1hundred 28thousand 4hundred 35 square feet location on the South owns a maximum GFA of 3hundred 59thousand 6hundred 18 square foot as well as an estimation development charge of $138.3 million.

Encompassing the 7 % capacity for patios, the North piece comes with a total permitted gross floor size of 4hundred 5thousand 5hundred 36 square foot while the gross floor area of the South parcel is 384,791 square feet The estimation DC for terraces remains at $20.2 mil and $19.1 mil, specifically.

Based upon a standard dimension of Eighty Five sq metre, the land patch on the North can most likely fit nearly 4hundred 14 housing units, while the plot on the South can probably generate 3hundred 93 units, dependent on the authorization of related powers.

Savills reported the sites “are nestled among a well-known non commercial district appreciating closeness to a plethora of services offered at Katong neighborhood, that is abundant in legacy, including the Paya Lebar Central neighborhood”.

The plots are generally properly catered to by Dakota Train Station along with Paya Lebar Interchange Train Station and even are linked up to almost all sides of S’pore through ECP and also PIE.

Savills marked that the sites “are actually poised to profit from their near proximity to Paya Lebar Central precinct, URA’s original Biz Improvement District lead prog out of the Central Biz District”.

Savills Singapore’s Deputy MD for IS and Capital Markets Galven Tan stated property developers are able to take advantage on the plots fantastic credit to develop 1 or 2 high end skyscraper projects.

He included the fact that the tender equally offers property developers transaction assurance considering that it happens to be not subject to the consent of the Strata Titles Board.

The tender for the sites wraps up on 18November.

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