Two Pine Grove sites released for sale

Two residence plots at Pine Grove (Parcels A + B ) that are able to together produce up to One thousand Eighty Five flats have been generated for sale under the reservation checklist of the second half ’21 Government Land Sales program, reported the Urban Redevelopment Authority on Tue 30Nov.

Underneath the reserve list process, a location will only be introduced available the moment it gains a deal of a minimum price that is reasonable to the state. Confirmed list spots, on the contrary, are kicked off in line with itinerary no matter interest.

Carrying a size of Twenty Two thousand Five hundred Thirty Four point Seven square metre, Parcel A possesses a max gross floor area of Forty Seven thousand Three hundred Twenty Three sq metre and also can generate 5hundred 20 units. Parcel B, conversely, extends 25thousand 39.2 square metre and even possesses a max GFA of 52,582 square meter. It can supply 5hundred 65 flats. Both locations come with a Ninety Nine year rent period.

Tricia , Head of Research for SEA at CBRE foresees the plots to invite demand from real estate investors, offered their venue inside of a relatively well-liked residential enclave also acceptable scale for every piece.

Key attractions include vicinity to HV, and the one-north precinct. The plots are at the same time close-by multiple institutions involving Henry Park Pri Sch, NUS, Ngee Ann Poly along with Sch of Science and Technology SGP.

The Commodore Floor Plan

” We indicate that there actually are living unit caps on both of these spots to take care of vehicles necessity throughout the area. Parcel A can be built up to 5hundred 20 residence units or a common 980 square foot every apartment, whereas Parcel B’s limit is 5hundred 65 apartments or approximately 1,002 sq ft every flat,” claimed Song.

The minimum flat size is a little bigger “than the implied 85 sq meter or 9hundred 15 square foot for each URA instructions for non-Landed Housing Developments out of the Core Location in Jan2019 “, Song said.

” On the other hand, granted the massive combined measurement of the offering furthermore the consideration of price thanks to the minimal standard unit scale, we foresee the main offer being a lot more tempered, measured up to the super latest tenders of 2 plots at Slim Barracks, that provide a smaller sized complete quantum of Four hundred flats and even had actually achieved leading offers of $One thousand Two hundred Ten to $One thousand Two hundred Forty Six psf per PR.”

If any of the spots is opened for tender, property developers may be exploring a selling price of One thousand Nine hundred to $Two hundred per square ft, with a land charge of $1thousand to $One thousand One hundred psf per plot ratio, further mentioned Song.

Concurrently, Huttons Asia thinks that the likelihoods of the spots getting sparked for sale are not high.

This happens as there are actually “far better locations on the Secured Checklist including Jln Tembusu and also upcoming collective sale plots which are going to overfill real estate investor’s demand for land”, it stated.

Add Comment

Your Email address will not be published

error: Content is protected !!