Dairy Farm Walk GLS site up for tender
It could possibly yield up to 360 private homes with heavy interest from property developers.
A private residential site located at Dairy Farm Walk has been released for sale under the Government Land Sales (GLS) programme.
The 99-year leasehold site has an area of 168,599 square feet and has a maximum GFA of 354,060 square feet.
Hence, it has the potential to yield around 385 private homes.
According to reports, this land parcel at Dairy Farm walk is one of few private residential plots in the area that has a plot ratio of 2.1.
As a result, the north-facing units that are on high floor levels within the future new launch condo at Dairy Farm Walk will likely get to enjoy unblocked panoramic views across the Good Class Bungalow area of Chestnut Avenue.
On the other hand, higher-floor units facing the south will get a greenery view towards the Bukit Timah Nature Reserve.
The Dairy Farm Walk GLS site is situated next to the German European School and it’s only a mere 10-minute walk away from the near Hillview MRT station.
The newest private residential project in the area is Dairy Farm Residences. It’s developed by United Engineers Ltd or UEL.
It was launched back in November 2019 and comprises 460 units.
To date, the developer has sold around 244 units, and based on transactions between August to October 2021, the average psf price is $1,622.
Previously in September 2018, UEL won the tender of this Dairy Farm Road site with a winning bid of $368.8 million ($830 psf ppr).
Therefore, given the positive sentiments in the property market and developers’ hunger to replenish their depleting land bank, analysts believe that this Dairy Farm Walk GLS site will draw around 8 bids in total.
It has been proven in previous land sales such as the Lentor GLS site and Ang Mo Kio Avenue 1 GLS site.
In addition, the top bid could come in between $900 psf to $1,000 psf due to the site’s locational plus points and the limited supply within the area.