{"id":123179,"date":"2021-11-12T03:51:39","date_gmt":"2021-11-11T20:51:39","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sixth-avenue-centre-up-for-collective-sale-for-85mil\/"},"modified":"2021-11-12T12:06:05","modified_gmt":"2021-11-12T05:06:05","slug":"sixth-avenue-centre-up-for-collective-sale-for-85mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sixth-avenue-centre-up-for-collective-sale-for-85mil\/","title":{"rendered":"Sixth Avenue Centre up for collective sale for $85mil"},"content":{"rendered":"


\nLocated at 805 Bukit Timah Road, Sixth Avenue Centre sits on a 15,009 sq ft land plot. Source: Google Maps
\nSixth Avenue Centre, a 40-year-old mixed-development at 805 Bukit Timah Road, has been put up for collective sale carrying a reserve price of $85 million, revealed exclusive marketing agent Cushman & Wakefield.
\nThis works out to a land rate of $1,861 per sq ft per plot ratio (psf ppr), including the \u201cnominal development charge payable to build up to plot ratio 3.0 and for the bonus balcony space\u201d.
\nNestled at the junction of Bukit Timah Road and Sixth Avenue, the mixed-use building features seven retail shops and 18 residential units. It occupies a trapezoidal land plot measuring 1,394.4 sq m (15,009 sq ft).
\nUnder the 2019 Master Plan, the site is zoned for \u201cCommercial and Residential\u201d use with a gross plot ratio of 3.0. The site has a maximum allowable gross floor area (GFA) of 4,183.20 sq m (45,028 sq ft), of which up to 40% can be developed for commercial use and the other 60% for residential use.
\nThe marketing agent noted that the site had received approval from the Urban Redevelopment Authority (URA) in 2018 for its residential portion to be retained as serviced residences.
\nThe future developer should also integrate a small portion of remnant state land at the splayed corner junction. Spanning about 85 sq m, this extra state land is expected to lower the average land cost to $1,788 psf ppr on the overall site.
\n\u201cSixth Avenue Centre presents a compelling opportunity for developers and investors to build and own an exclusive suburban boutique project with guaranteed robust demand for hip retail, lifestyle and residential concepts,\u201d said Christina Sim, Director of Capital Markets at Cushman & Wakefield.
\n\u201cLocated within the affluent suburbia precincts of District 10, coupled with a young population and high purchasing power, Sixth Avenue Centre will certainly be a prominent landmark and a limited edition offering.\u201d
\nNotably, the development is near the Sixth Avenue MRT Station on the Downtown Line, connecting the locale from Newton to Cashew.
\nThe tender for Sixth Avenue Centre closes on 6 January 2022.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Sixth Avenue Centre up for collective sale for mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Located at 805 Bukit Timah Road, Sixth Avenue Centre sits on a 15,009 sq ft...<\/p>\n","protected":false},"author":1,"featured_media":123180,"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-123179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/sixth-avenue-centre.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-w2L","jetpack-related-posts":[{"id":119946,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-up-for-collective-sale\/","url_meta":{"origin":123179,"position":0},"title":"Adjoining sites at Bukit Timah, Duke's Road up for collective sale","date":"January 27, 2021","format":false,"excerpt":"\r Adjoining sites at Bukit Timah, Duke's Road up for collective saleWith an area of 16,479 sq ft, the freehold site is zoned for residential and commercial use under the\u00a02019 Master Plan. Image: Google Street View Three adjoining mixed-use redevelopment sites located at 551 to 553 Bukit Timah Road and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/551-to-553-Bukit-Timah-Rd.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122838,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-goes-en-bloc-again-with-lower-price\/","url_meta":{"origin":123179,"position":1},"title":"Adjoining sites at Bukit Timah, Duke's Road goes en bloc again with lower price","date":"October 27, 2021","format":false,"excerpt":"\r Adjoining sites at Bukit Timah, Duke's Road goes en bloc again with lower priceLocated\u00a0at 551 to 553 Bukit Timah Road and 6 to 8 Duke\u2019s Road,\u00a0the three adjoining mixed-use redevelopment sites has an asking price of $53.8 million. Source:\u00a0Google\u00a0Maps The owners of three adjoining mixed-use redevelopment sites located at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/551-to-553-Bukit-Timah-Rd.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":31788,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/upper-bukit-timah-shophouses-on-sale-for-20-million\/","url_meta":{"origin":123179,"position":2},"title":"Upper Bukit Timah shophouses on sale for $20 million","date":"October 27, 2016","format":false,"excerpt":"\r The guide price works out to $718 psf per plot ratio on the floor area. (Photo: CBRE) A cluster of five adjoining shophouses along 824-836 Upper Bukit Timah Road have been put up for sale by public tender, said marketing agent CBRE. The guide price for the row of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71438,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/royalvilles-tender-closing-date-extended-to-30-nov\/","url_meta":{"origin":123179,"position":3},"title":"Royalville\u2019s tender closing date extended to 30 Nov","date":"November 10, 2017","format":false,"excerpt":"\r Royalville is a freehold apartment development completed in 1988 which comprises of 93 units. (Photo: Edmund Tie & Company) The tender closing date for Royalville at Bukit Timah Road will be extended from 10 November to 30 November, revealed its marketing agent Edmund Tie & Company. Nestled on a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75753,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sixth-avenue-centre-joins-en-bloc-sale-frenzy\/","url_meta":{"origin":123179,"position":4},"title":"Sixth Avenue Centre joins en bloc sale frenzy","date":"January 4, 2018","format":false,"excerpt":"\r Freehold mixed-use development Sixth Avenue Centre has jumped in the collective sales bandwagon, carrying an indicative guide price of $90.5 million. Factoring a development charge of around $526,000, the price works out to a land rate of $2,022 psf ppr, revealed marketing agent Savills Singapore. Occupying a land area\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":123179,"position":5},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123179"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=123179"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/123180"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=123179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=123179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=123179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}