{"id":122183,"date":"2021-09-24T01:54:15","date_gmt":"2021-09-23T18:54:15","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-residential-sites-at-thiam-siew-avenue-up-for-sale\/"},"modified":"2021-09-24T10:10:49","modified_gmt":"2021-09-24T03:10:49","slug":"two-freehold-residential-sites-at-thiam-siew-avenue-up-for-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-residential-sites-at-thiam-siew-avenue-up-for-sale\/","title":{"rendered":"Two freehold residential sites at Thiam Siew Avenue up for sale"},"content":{"rendered":"


\nTwo freehold residential sites at Thiam Siew Avenue up for saleIncluding balcony space, the North plot has a GFA of 405,536 sq ft and an estimated development charge of $20.2 million, while the 384,791 sq ft South plot has a development charge of\u00a0$19.1 million. Photo: Savills Singapore
\nTwo freehold residential sites at Thiam Siew Avenue are up for sale by public tender, with prospective developers having the option to acquire the sites jointly or individually, revealed exclusive marketing agent Savills Singapore.
\nSituated just off Tanjong Katong Road within prime District 15, the sites have a combined land area of about 263,794 sq ft and are zoned for \u201cResidential\u201d use under the 2019 Master Plan with an allowable gross plot ratio of 2.8.
\nThe 135,359 sq ft site on the North has a maximum gross floor area (GFA) of 379,006 sq ft and an estimated development charge of $145.7 million.
\nMeanwhile, the 128,435 sq ft site on the South has a maximum GFA of 359,618 sq ft and an estimated development charge of $138.3 million.
\nIncluding the 7% space for balconies, the North plot has a maximum permissible GFA of 405,536 sq ft while the GFA of the South plot is 384,791 sq ft. The estimated development charge for balconies stands at $20.2 million and $19.1 million, respectively.
\nBased on an average size of 85 sq m, the land plot on the North can accommodate about 414 housing units, while the plot on the South can yield 393 units, subject to the approval of relevant authorities.
\nSavills said the sites \u201care nestled within an established residential enclave enjoying proximity to a plethora of amenities available at Katong precinct, which is rich in heritage, and the Paya Lebar Central precinct\u201d.
\nThe sites are well served by Dakota MRT Station and Paya Lebar Interchange MRT Station and are connected to all parts of Singapore via East Coast Parkway (ECP) and Pan Island Expressway (PIE).
\nSavills noted that the sites \u201care poised to benefit from their close proximity to Paya Lebar Central precinct, URA\u2019s first Business Improvement District (BID) pilot programme outside the CBD\u201d.
\nSavills Singapore\u2019s Deputy Managing Director for Investment Sales and Capital Markets Galven Tan said developers can capitalise on the sites excellent attributes to develop one or two upscale high-rise projects.
\nHe added that the tender also offers developers deal certainty since it is not subject to the approval of the Strata Titles Board.
\nThe tender for the sites closes on 18 November.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email:\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Two freehold residential sites at Thiam Siew Avenue up for sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Two freehold residential sites at Thiam Siew Avenue up for saleIncluding balcony space, the North...<\/p>\n","protected":false},"author":1,"featured_media":122184,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-122183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/Thiam-Siew-Avenue-crop.jpg?fit=818%2C411&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vMH","jetpack-related-posts":[{"id":78203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-unit-te2-acquire-the-wilshire-for-98-8mil\/","url_meta":{"origin":122183,"position":0},"title":"Roxy Pacific unit, TE2 acquire The Wilshire for $98.8mil","date":"January 29, 2018","format":false,"excerpt":"\r A joint venture of RP Ventures Pte Ltd and TE2 Development Pte Ltd has acquired The Wilshire for $98.8 million, which works out to a land rate of $1,536 psf per plot ratio (ppr), revealed Savills Singapore, which brokered the deal. 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