El Development and Gao Xiu Hua submit top bids for Slim Barracks Rise GLS sites
The offer for the 99 year leasehold locations was kicked off on 15 Jun from the Approved Checklist of the 1st half 2K21 Government Land Sales plan.
El Dvlpmt put forward the leading offer of $320.1 mil or $1.246K psf ppr for Plot A, that extends 7,957.3 sq metres. The spot features a highest GFA of Twenty Three thousand Eight hundred Seventy Two sq meter and also can provide 2hundred 65 housing units with a retail limit of Eight hundred sq metre in gross floor area.
“The best proposal was merely One point Three % more than the next top proposal from Gao Xiu Hua, who got the offer for Parcel B,” said CBRE’s Head of Research for SE Asia Tricia Song.
Gao Xiu Hua, that is believed to be the better half of the Chairman of Kingsford Development, tendered the premier tender for Land B at $1hundred 62 point 4 million or $1,210 per sq feet per plot ratio. This best quote was 2.4 % higher than the 2nd highest offer from TID House.
Stretching over 5,936.6 square m, the spot has a total GFA of Twelve thousand Four hundred Sixty Seven square meter furthermore could easily generate 140 personal houses and having a retail cap of 4 hundred sq metre in gross floor area.
“Land A’s land charge is greater than Plot B’s, maybe due to Parcel A’s nearer vicinity to the Buona Vista MRT station,” Song beefed up.
She associated the healthy excitement for the sites to their “relatively satisfactory scales, the rising catchment at the rising one-north R&D company core, as well as smaller brand-new apartments source around”.
In fact, the locations exceeded a past non commercial plot at Slim Barracks Rise, which in turn got a highest quote of $1thousand 1 per square ft ppr during the cease of its offer in Sept2019.
It was eventually become One-north Eden, the apartments of which were generally pushed at a mean amount of $Two thousand Nine psf, mentioned Tricia.
For both locations, Song foresees the properties to get sold at above $2thousand 1hundred psf once debuted.