Two freehold residential sites at Thiam Siew Avenue up for sale
Two free land residential locations at Thiam Siew Ave are up for purchase by communal offer, with perspective real estate investors featuring the choice to get the spots on collaboration or individually, revealed private advertising and marketing rep Savills Singapore.
Standing just over Tanjong Katong Road found in excellent District Fifteen, the locations come with a combined land surface area of about 263,794 square ft also are section for “Home” utilization beneath the 2K19 Master Plan by having an allowed gross PR of 2.8.
The 135,359 square feet site on the North possesses a top GFA of 379,006 square ft and an estimation dvlpmt fee of $145.7 mil.
The 1hundred 28thousand 4hundred 35 sq foot site on the South possesses a highest GFA of 359,618 square feet along with an estimation DC of $138.3 mil.
Including the Seven percent space for balconies, the North allotment features a top acceptable gross floor area of 4hundred 5thousand 5hundred 36 square ft whereas the gross floor area of the South plot is 384,791 sq feet The approximation DC for patios stands at $20.2 mil and $19.1 mil, respectively.
Based upon a typical specifications of 85 sq meter, the land piece on the North can easily integrate almost 414 residence units, while at the same time the allotment on the South can most likely yield Three hundred Ninety Three apartments, based on the validation of related bodies.
Savills explained the locations “are situated within a well established non commercial territory taking pleasure in proximity to a huge selection of services readily available at Katong district, which is valuable in culture, along with the Paya Lebar Central precinct”.
The locations are certainly properly served by Dakota Train Terminal and also Paya Lebar Intersection Mass Rapid Transit Station and are networked to almost all parts of Singapore via ECP and PIE.
Savills marked that the sites “are truly assured to profit from their near distance to Paya Lebar Central area, Urban Redevelopment Authority’s number one BID lead prog beyond the CBD”.
Savills S’pore’s Deputy MD for Investment Sales and Capital Markets Galven Tan claimed developers may take advantage on the sites excellent qualities to cultivate 1 or 2 upscale high-rise properties.
He said further the fact that the tender furthermore presents real estate investors transaction trust since it is excluded to the approval of the STB.
The tender for the locations ends on 18Nov.