Two freehold residential sites at Thiam Siew Avenue up for sale
2 lease free home sites at Thiam Siew Avenue are up for purchase by means of communal tender, having prospective real estate investors containing the option to secure the plots collectively or individually, reported exclusive marketing and advertising professional Savills S’pore.
Located just off Tanjong Katong Road inside prime District 15, the plots have a joined land size of almost 2hundred 63thousand 7hundred 94 sq foot and also are sector for “Non commercial” use beneath the 2K19 Master Plan including a permitted gross allotment ratio of 2.8.
The 1hundred 35thousand 3hundred 59 square foot plot on the North has a top gross floor size of 3hundred 79thousand 6 sq feet including an estimated development charge of $145.7 mil.
At the same time, the 1hundred 28thousand 4hundred 35 sq feet spot on the South holds an optimum gross floor area of 3hundred 59thousand 6hundred 18 square ft along with an estimation dvlpmt charge of $138.3 mil.
Integrating the Seven percent area for balconies, the North parcel has a maximum allowable gross floor size of 405,536 square feet while the GFA of the South piece is 384,791 sq feet The estimation DC for balconies remains at $20.2 million and $19.1 mil, each.
Based on a typical specifications of 85 square meter, the land patch on the North can easily suit roughly 414 home units, whereas the plot on the South can easily generate 3hundred 93 units, conditional the endorsement of relevant powers.
Savills revealed the spots “are snuggled inside a well-known housing territory appreciating vicinity to a variety of facilities readily available at Katong district, which is rich in historical past, including the Paya Lebar Central district”.
The plots are certainly properly catered to by Dakota MRT Station along with Paya Lebar Intersection MRT Terminal and are joined to almost all areas of Singapore via ECP also Pan Island Expressway.
Savills marked that the sites “are truly assured to take advantage of their immediate distance to Paya Lebar Central neighborhood, Urban Redevelopment Authority’s original Biz Improvement District preliminary prog out of the CBD”.
Savills SGP’s Vice Managing Dir for Investment Sales and Capital Markets Galven Tan revealed property developers can surely take advantage on the plots effective credit to produce one or two enhanced skyscraper ventures.
He further mentioned that the tender likewise presents real estate investors transaction trust considering that it is not subject to the approval of the STB.
The tender for the sites terminates on 18Nov.