Two freehold residential sites at Thiam Siew Avenue up for sale
2 freehold residence spots at Thiam Siew Avenue are up for purchase by communal offer, having possible developers having the opportunity to get the sites jointly or individually, communicated exclusive promotion and marketing specialist Savills Singapore.
Standing just away from Tanjong Katong Rd inside prime District 15, the sites own a consolidated acreage of roughly 2hundred 63thousand 7hundred 94 square ft also are sector for “Non commercial” application under the ’19 Master Plan by having an authorised gross patch ratio of 2.8.
The 135,359 square feet site on the North has a top gross floor size of 3hundred 79thousand 6 sq feet including an estimation development fee of $145.7 million.
The 1hundred 28thousand 4hundred 35 sq ft site on the South owns a total gross floor size of 359,618 sq ft plus an estimated DC of $138.3 mil.
Encompassing the 7 % area for terraces, the North allotment owns a maximum permitted GFA of 405,536 sq ft while at the same time the gross floor size of the South allotment is 3hundred 84thousand 7hundred 91 sq ft. The approximation DC for verandas stands at $20.2 mil and $19.1 million, respectively.
Based on a typical measurement of Eighty Five sq meter, the land allotment on the North can most likely suit almost 4hundred 14 house units, while at the same time the allotment on the South can most likely yield 393 units, dependent on the consent of appropriate bodies.
Savills said the spots “are snuggled around a reputable home area taking pleasure in vicinity to a plethora of facilities accessible at Katong area, that is rich in culture, plus the Paya Lebar Central neighborhood”.
The sites are adequately served by Dakota Train Station as well as Paya Lebar Intersection Train Terminal and are attached to all areas of SGP using East Coast Parkway furthermore Pan Island Expressway.
Savills mentioned that the spots “are truly assured to benefit from their neighboring proximity to Paya Lebar Central district, Urban Redevelopment Authority’s number one Business Improvement District lead prog beyond the CBD”.
Savills S’pore’s Deputy Managing Director for Investment Sales and Capital Markets Galven Tan claimed property developers may make the most on the spots excellent qualities to create a couple of elegant high-rise properties.
He said further that the tender similarly delivers property developers transaction certainty because that it is not subject to the green light of the STB.
The tender for the plots concludes on 18Nov.