Two freehold residential sites at Thiam Siew Avenue up for sale
2 free land residence sites at Thiam Siew Ave are up for sale via communal offer, having prospective property developers coming with the choice to secure the spots jointly or singularly, announced premium promoting and marketing professional Savills SGP.
Found just off Tj Katong Rd amongst prime Area 15, the spots own a joined acreage of roughly 2hundred 63thousand 7hundred 94 square foot also are sector for “Home” utilization within the 2K19 Master Plan including a permitted gross allotment ratio of 2.8.
The 1hundred 35thousand 3hundred 59 square ft location on the North owns a maximum GFA of 3hundred 79thousand 6 square feet as well as an approximation development fee of $145.7 million.
The 1hundred 28thousand 4hundred 35 sq ft location on the South features a total gross floor area of 3hundred 59thousand 6hundred 18 sq foot plus an estimation DC of $138.3 million.
Including the Seven percent spot for balconies, the North parcel features a top permissible gross floor size of 4hundred 5thousand 5hundred 36 square ft whereas the GFA of the South allotment is 384,791 square foot The approximation development charge for balconies remains at $20.2 mil and $19.1 million, respectively.
Based upon an ordinary specifications of 85 sq metre, the land piece on the North can fit roughly 414 housing units, while the plot on the South can generate 393 units, subject to the approval of related authorities.
Savills claimed the locations “are situated amongst a well-known non commercial enclave appreciating closeness to a wide variety of features readily available at Katong neighborhood, which is rich in heritage, along with the Paya Lebar Central precinct”.
The plots are generally properly catered to by Dakota MRT Terminal plus Paya Lebar Intersection Train Terminal that are networked to every areas of SGP by means of East Coast Parkway and also PIE.
Savills marked in which the sites “are actually poised to gain from their close vicinity to Paya Lebar Central precinct, URA’s number one Biz Improvement District lead prog out of the CBD”.
Savills SGP’s Deputy Managing Director for Investment Sales and Capital Markets Galven Tan stated property developers are able to capitalise on the plots fantastic credit to establish 1 or 2 enhanced skyscraper ventures.
He said further the fact that the tender at the same time presents developers transaction assurance as it is not subject to the validation of the STB.
The tender for the locations terminates on 18November.