Two freehold residential sites at Thiam Siew Avenue up for sale
2 lease free residential plots at Thiam Siew Avenue are available sale by means of public tender, having perspective property developers coming with the option to secure the plots jointly or individually, communicated exclusive advertising and marketing representative Savills SGP.
Found just away from Tj Katong Rd inside prime District Fifteen, the plots feature a consolidated land surface area of around 263,794 square foot and also are zoned for “Residential” usage within the 2K19 Master Plan by having an allowable gross plot ratio of 2.8.
The 135,359 sq foot location on the North features a highest GFA of 3hundred 79thousand 6 square feet including an estimated DC of $145.7 mil.
At the same time, the 128,435 sq feet plot on the South owns an optimum GFA of 3hundred 59thousand 6hundred 18 sq feet along with an approximation dvlpmt fee of $138.3 million.
Encompassing the 7 percent area for balconies, the North allotment holds an optimum acceptable gross floor area of 4hundred 5thousand 5hundred 36 square foot while the gross floor area of the South allotment is 3hundred 84thousand 7hundred 91 square ft. The approximation DC for verandas sets at $20.2 mil and $19.1 million, specifically.
Based on a typical size of Eighty Five sq m, the land plot on the North can accommodate roughly Four hundred Fourteen home units, whilst the patch on the South can most likely generate Three hundred Ninety Three units, dependent on the consent of related powers.
Savills stated that the plots “are snuggled within a well established residence district appreciating proximity to a plethora of conveniences accessible at Katong neighborhood, which is rich in heritage, along with the Paya Lebar Central precinct”.
The plots are generally satisfactorily served by Dakota Mass Rapid Transit Station along with Paya Lebar Intersection MRT Station and even are connected to all areas of SGP through ECP plus Pan Island Expressway.
Savills considered that the sites “are positioned to profit from their immediate vicinity to Paya Lebar Central area, URA’s 1st Business Improvement District pilot program away from the Central Biz District”.
Savills SGP’s Vice MD for Investment Sales and Capital Markets Galven Tan stated that property developers can surely take advantage on the locations exceptional characteristics to cultivate a couple of upscale skyscraper projects.
He continued the fact that the tender additionally furnishes property developers deal certainty as it is excluded to the validation of the STB.
The bid for the plots calls off on 18November.