THE Urban Redevelopment Authority (URA) and the Housing & Development Board (HDB) have released three sites with residential components for sale at Dairy Farm Road, Sims Drive and Tampines Avenue 10 under the first half of the 2018 Government Land Sales (GLS) Programme.
This Dairy Farm GLS land plot could fetch a high price for Government Land Sales land parcels in the area
For sale is one Confirmed List site at Dairy Farm Road launched for residential development with commercial uses at the first storey. This land parcel has a site area of 19,647.5 square metres (sq m), with a 99-year lease period, and a permissible gross floor area (GFA) of 41,260 sq m. The project completion period is five years, and tender for this development will close at 12 noon on 4 Sept 2018.
The Dairy Farm Road plot's most attractive attributes are its proximity to the Bukit Timah Nature Reserve and partial unblocked views over the landed residential plots. The site's proximity to Hillview MRT station and major expressways as well as strong rental demand from expatriates in the locality are reasons why the site may prove to be popular with developers.
The last time a residential GLS site was sold in the area was in 2012, to a consortium led by TA Corporation for S$616 per square foot per plot ratio (psf ppr) and developed into The Skywoods. Nearby, there is an older condo development - The Dairy Farm which is now in the process of gathering the requisite consensus for its collective sale with an asking price of over S$1.68 billion, or a land rate of at least S$1,100 psf ppr inclusive of the development charge.
The current record GLS land rate (S$805 psf ppr) in the Bukit Panjang/Hillview/Dairy Farm/Bukit Batok locality is now held by the land parcel where Hillion Residences and Hillion Mall stand. Units in Hillion Residences have commanded average prices of S$1,496 psf this year.
The Dairy Farm Road plot's most attractive attributes are its proximity to the Bukit Timah Nature Reserve and partial unblocked views over the landed residential plots. The site's proximity to Hillview MRT station and major expressways as well as strong rental demand from expatriates in the locality are reasons why the site may prove to be popular with developers.
The last time a residential GLS site was sold in the area was in 2012, to a consortium led by TA Corporation for S$616 per square foot per plot ratio (psf ppr) and developed into The Skywoods. Nearby, there is an older condo development - The Dairy Farm which is now in the process of gathering the requisite consensus for its collective sale with an asking price of over S$1.68 billion, or a land rate of at least S$1,100 psf ppr inclusive of the development charge.
The current record GLS land rate (S$805 psf ppr) in the Bukit Panjang/Hillview/Dairy Farm/Bukit Batok locality is now held by the land parcel where Hillion Residences and Hillion Mall stand. Units in Hillion Residences have commanded average prices of S$1,496 psf this year.
This GLS land parcel at Sims Drive has a site area of 16,225.3 sq m and is near amenities and eateries
Separately, URA also announced another residential site at Sims Drive made available for application under the Reserve List. This means developers can trigger the tender of these sites if they indicate interest with bid commitments acceptable to the URA.
The development at Sims Drive has a site area of 16,225.3 sq m, with a lease period of 99 years, and a permissible GFA of 48,676 sq m.
The development at Sims Drive has a site area of 16,225.3 sq m, with a lease period of 99 years, and a permissible GFA of 48,676 sq m.
Nearby is a recently TOP beautiful condo - Sims Urban Oasis, developed by reputable listed developer - Guocoland
This GLS land parcel at Sims Drive is sited right beside the beautiful condo development that has recently achieved TOP status called Sims Urban Oasis, developed by the very reputable Singapore listed developer - Guocoland. There are still a small handful of three bedroom units, 'rare' four bedroom dual-key and 5 bedroom units available for sale at Sims Urban Oasis, find out more about this project by clicking the project image above.
Tampines Ave 10 GLS site (EC)
In addition to the above two land parcels, URA also announced a HDB executive condominium site at Tampines Avenue 10 that is available for application under the Reserve List as well. This plot of land for development of an executive condominium at Tampines has a site area of 2.56 hectares (25, 600 sq m), and a proposed gross plot ratio of 2.8.
Beside this plot of land is a recently launched new condo development called The Tapestry, developed by another very reputable locally listed developer - City Developments Limited or CDL. This project is a private condo project and features good sized layouts in their interior floorplan designs that appeal to both home owners and investors alike. You may click on the project image below to visit The Tapestry website to find out more.
Beside this plot of land is a recently launched new condo development called The Tapestry, developed by another very reputable locally listed developer - City Developments Limited or CDL. This project is a private condo project and features good sized layouts in their interior floorplan designs that appeal to both home owners and investors alike. You may click on the project image below to visit The Tapestry website to find out more.
The Tapestry is a quality private condo project developed by reputable CDL along Tampines Ave 10
Collectively, the three GLS land parcels released by URA as shown above can yield an estimated total of 1,880 residential units.
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