Two freehold residential sites at Thiam Siew Avenue up for sale
Two lease free housing spots at Thiam Siew Avenue are available sale by public tender, having possible real estate investors featuring the alternative to obtain the plots collectively or individually, announced premium marketing professional Savills S’pore.
Situated just off Tanjong Katong Rd among prime Area 15, the spots hold a combined land surface area of approximately 2hundred 63thousand 7hundred 94 square foot and also are section for “Non commercial” application under the ’19 Master Plan using an authorised gross plot ratio of 2.8.
The 1hundred 35thousand 3hundred 59 square foot site on the North contains a total gross floor area of 379,006 sq ft along with an approximation DC of $145.7 million.
On the other hand, the 128,435 square ft location on the South features a total GFA of 359,618 sq ft along with an approximation DC of $138.3 mil.
Including the Seven percent space for terraces, the North patch possesses an optimum allowable gross floor area of 4hundred 5thousand 5hundred 36 sq foot whilst the GFA of the South plot is 384,791 sq foot The approximation dvlpmt charge for terraces remains at $20.2 mil and $19.1 million, specifically.
Accorded to an ordinary size of 85 sq m, the land parcel on the North can most likely fit around 4hundred 14 home units, whilst the allotment on the South can most likely produce 393 units, dependent on the validation of appropriate bodies.
Savills shared the plots “are snuggled around a recognized housing territory taking pleasure in proximity to a wide variety of conveniences accessible at Katong neighborhood, that is abundant in historical past, along with the Paya Lebar Central neighborhood”.
The sites are really effectively served by Dakota Mass Rapid Transit Station plus Paya Lebar Interchange Train Terminal and are linked to entire areas of Singapore through East Coast Parkway as well as Pan Island Expressway.
Savills mentioned in which the plots “are actually poised to take advantage of their immediate proximity to Paya Lebar Central district, Urban Redevelopment Authority’s 1st Biz Improvement District pilot program away from the Central Biz District”.
Savills Singapore’s Vice MD for IS and Capital Markets Galven Tan stated real estate investors can surely make the most on the plots effective features to generate one or 2 upscale skyscraper ventures.
He continued the fact that the tender likewise grants property developers transaction positiveness due to the fact that it is exempt to the consent of the STB.
The tender for the plots terminates on 18Nov.