Two freehold residential sites at Thiam Siew Avenue up for sale
Two free lease housing spots at Thiam Siew Ave are available purchase via communal tender, having potential property developers coming with the opportunity to purchase the sites on collaboration or personally, broadcast premium marketing agent Savills SGP.
Found just off Tj Katong Road amongst excellent District Fifteen, the sites own a joined acreage of roughly 2hundred 63thousand 7hundred 94 square ft and are zoned for “Housing” application under the ’19 Master Plan with an allowable gross PR of Two point Eight.
The 135,359 square feet plot on the North owns a maximum GFA of 3hundred 79thousand 6 sq foot including an estimated dvlpmt charge of $145.7 million.
The 128,435 square ft plot on the South owns a maximum GFA of 3hundred 59thousand 6hundred 18 sq foot as well as an estimated dvlpmt fee of $138.3 mil.
Including the 7 percent spot for terraces, the North allotment contains a top permissible gross floor size of 405,536 square foot while the GFA of the South allotment is 3hundred 84thousand 7hundred 91 square feet The estimated DC for balconies sets at $20.2 mil and $19.1 mil, each.
Accorded to an average specifications of Eighty Five sq metre, the land patch on the North can fit around Four hundred Fourteen residence units, while the allotment on the South can most likely grant 393 apartments, subject to the validation of relevant authorities.
Savills said the plots “are located among an established home zone relishing proximity to a myriad of conveniences accessible at Katong district, that is rich in legacy, including the Paya Lebar Central neighborhood”.
The locations are satisfactorily served by Dakota MRT Station and Paya Lebar Intersection Train Station and even are joined to almost all areas of SGP via East Coast Parkway furthermore Pan Island Expressway.
Savills indicated in which the spots “are actually assured to take advantage of their near proximity to Paya Lebar Central neighborhood, URA’s first Biz Improvement District lead programme beyond the Central Business District”.
Savills SGP’s Vice MD for Investment Sales and Capital Markets Galven Tan reported property developers may make the most on the sites outstanding credit to establish 1 or 2 high end skyscraper projects.
He further mentioned the fact that the tender at the same time grants developers deal trust as it is unbound to the green light of the Strata Titles Board.
The tender for the sites calls off on 18November.