Two freehold residential sites at Thiam Siew Avenue up for sale
2 free lease non commercial plots at Thiam Siew Ave are available purchase via communal offer, with potential real estate investors possessing the alternative to secure the spots collectively or singularly, disclosed exclusive promoting and marketing specialist Savills SGP.
Found just away from Tanjong Katong Rd within prime District Fifteen, the plots hold a consolidated acreage of almost 2hundred 63thousand 7hundred 94 square feet also are section for “Residence” utilization under the 2K19 Master Plan including a permitted gross PR of 2.8.
The 135,359 square feet spot on the North possesses a top GFA of 379,006 sq feet along with an estimated DC of $145.7 mil.
The 1hundred 28thousand 4hundred 35 square feet location on the South owns an optimum gross floor area of 3hundred 59thousand 6hundred 18 sq feet along with an approximation DC of $138.3 million.
Including the Seven percentage space for balconies, the North allotment possesses an optimum acceptable GFA of 4hundred 5thousand 5hundred 36 sq feet whilst the gross floor size of the South piece is 384,791 sq foot The approximation DC for terraces sets at $20.2 mil and $19.1 mil, respectively.
Based upon an ordinary specifications of Eighty Five square m, the land patch on the North can most likely accommodate around 414 home units, whereas the piece on the South can probably generate Three hundred Ninety Three apartments, dependent on the endorsement of related authorities.
Savills stated the plots “are situated around a well established housing territory appreciating distance to a range of services offered at Katong area, that is abundant in heritage, plus the Paya Lebar Central area”.
The sites are certainly effectively provided by Dakota Mass Rapid Transit Terminal along with Paya Lebar Interchange MRT Terminal that are connected to all parts of SGP using East Coast Parkway and PIE.
Savills considered that the sites “are poised to benefit from their nearby distance to Paya Lebar Central district, Urban Redevelopment Authority’s original Biz Improvement District preliminary prog away from the CBD”.
Savills SGP’s Deputy MD for Investment Sales and Capital Markets Galven Tan stated real estate investors may capitalise on the locations outstanding credit to establish a couple of upscale high-rise projects.
He further mentioned that the tender furthermore extends property developers deal assurance considering that it is not subject to the consent of the Strata Titles Board.
The bid for the locations ends on 18Nov.