The Urban Redevelopment Authority (URA) and the Housing & Development Board (HDB) are releasing two sites under the H2 2014 Government Land Sales Programme.
Jointly, they are expected to yield about 1,000 units.
The first is a residential site, with its first storey allocated for commercial activity, located along Upper Serangoon Road. It is for sale under the Confirmed List and is expected to yield about 340 housing units.
The 99-year leasehold plot has a site area of 10,097 square metres (108,685 square feet), and a permissible gross floor area (GFA) of 30,292 sq m (326,060 sq ft). The maximum permissible commercial GFA is 2,500 sq m (26,910 sq ft).
One key attraction for this site is its close proximity of about 150 metres to Kovan MRT station, which is only a stop away from Serangoon MRT interchange station.
However, it is more challenging to develop this site due to its triangular shape and that it is fronting two very busy roads, namely Upper Serangoon Road and Tampines Road. Furthermore, this site is also next to the underground MRT line which may lead to higher construction cost.
Analyst is expecting the site to attract 10 to 15 bids, with the winning bid coming in the region of S$670 to S$721 psf ppr, or between S$218.5 million and S$235 million.
The tender for the site closes at noon on Nov 13.
The second site, a 99-year leasehold residential plot in Dundee Road near Commonwealth Road, was available for sale on the Reserve List from Thursday.
The 10,516.1 sq m (113,194 sq ft) site, with a maximum GFA of 51,529 sq m (554,653 sq ft), is expected to yield 645 units.
It is a few minutes’ drive from established schools like Crescent Girls School and the ISS International School.
Source: Business Times – 26 September 2014