The Urban Redevelopment Authority (URA) of Singapore has launched 2 private residential sites for sale via public tender on Thursday (28 Dec 2017). They are both located at Hillview Rise and Sengkang Central respectively.
It was noted by URA that these 2 sites are being placed under the Confirmed List of the 2H 2017 Government Land Sales (GLS) programme and they can both yield a total of 1,235 homes together.
The plot at Sengkang spans across a land area of around 401,497.2 square feet (sq ft) and has been zoned for mixed-use; residential and commercial. The site is also within close proximity to the Buangkok MRT Station.
The future new launch at Sengkang has been envisioned to be a community hub which comprises amenities like a childcare centre, hawker centre, retail spaces as well as public transport facilities – meeting the needs of residents in the Buangkok precinct.
Thus, it was added by URA that the design of spaces and integration plans for the future new launch at Sengkang proposed by property developers will be key to the development’s success.
The land parcel (zoned for residential only) at Hillview Rise has an area of 153,925.2 sq ft and is located near Hillview MRT Station.
It was mentioned that the Hillview Rise site has a regular configuration, which will allow maximum gains in terms of productivity and will also be an ideal test bed for novel construction methods and technologies.
The tender for the Hillview Rise and Sengkang Central sites will close on 3 May and 21 June next year (2018) respectively.
On the other, property developers may also be keeping their options open for a possible acquisition of The Wilshire at Farrer Road.
The 20-unit freehold development was constructed back in the 1980s and takes up a land area of around 39,130 sq ft with a 1.6 plot ratio.
The Wilshire is located within close proximity to the Farrer Road MRT Station and also the recently completed Leedon Residence by GuocoLand.
Under the URA Master Plan 2014, the Farrer Road site can be redeveloped in a new 12-storey tall residential apartment with a maximum gross floor area (GFA) of 64,310.7 sq ft.
The indicative reserve price is being set at S$98.07 million (or S$1,525 psf ppr) and each owner at The Wilshire will expect a payout of around S$4.9 million.
The tender for The Wilshire en bloc will close on 25 January 2018.