{"id":51526,"date":"2017-04-11T05:15:51","date_gmt":"2017-04-10T22:15:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-to-launch-tender-for-queenstown-reserve-list-site\/"},"modified":"2017-04-11T05:56:20","modified_gmt":"2017-04-10T22:56:20","slug":"ura-to-launch-tender-for-queenstown-reserve-list-site","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-to-launch-tender-for-queenstown-reserve-list-site\/","title":{"rendered":"URA to launch tender for Queenstown reserve list site"},"content":{"rendered":"


\nThe site at Stirling Road was triggered for sale after a developer committed to a minimum bid of $685,250,000. (Photo: URA)
\nThe Urban Redevelopment Authority (URA) announced yesterday that it accepted an application from a developer to put up a residential site at Stirling Road in Queenstown for sale by public tender.
\nThe 2.11ha site was first made available for sale on the reserve list in March 2010. According to the URA, the unnamed developer committed to a minimum bid of $685,250,000.
\nAs the price is acceptable to the government, the 99-year leasehold plot will be released for sale in about two weeks. It is expected to yield 1,110 housing units.
\n\u201cInterest for the site is expected to be healthy, with between eight to 10 bids mostly from the major players who may team up with other parties in view of the quantum and the large site. Developers will be keen to leverage the good accessibility of the site and the higher ground on which the site sits,\u201d said Desmond Sim, Head, CBRE Research, Singapore and South East Asia.
\nThe land parcel is close to the Queenstown MRT station and a few malls including Queensway Shopping Centre and Tiong Bahru Plaza.
\nThe future development is also ideal for families with school-going children as various schools including Gan Eng Seng Primary School, Crescent Girls\u2019 School and the Global Indian International School are located nearby.
\nDr Lee Nai Jia, Senior Director, Head (SEA) Research, revealed that prices of new developments in the vicinity ranged from $1,500 psf to $1,700 psf on strata area. \u201cBids are likely to range from $830 to $920 psf per plot ratio, with the winning bid likely to be higher than $920,\u201d he said.
\nBut he noted that there are several existing and upcoming developments nearby. Future developments include Artra (400 units) and the recently sold Government Land Sales site at Margaret Drive (300 units).
\n\u201cIn light of the supply in the area, some developers\u2019 may focus on the land parcels at Upper Serangoon Road and Toh Tuck Road instead,\u201d said Lee.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…URA to launch tender for Queenstown reserve list site<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The site at Stirling Road was triggered for sale after a developer committed to a...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-51526","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-dp4","jetpack-related-posts":[{"id":33853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-sale-of-margaret-drive-site\/","url_meta":{"origin":51526,"position":0},"title":"URA launches sale of Margaret Drive site","date":"November 11, 2016","format":false,"excerpt":"\r A developer committed to a minimum bid of about $185.76 million for the 0.48ha site in Queenstown. Source: URA A 0.48ha residential site at Margaret Drive in Queenstown was launched for sale by public tender on Thursday (10 November) by the Urban Redevelopment Authority (URA). Released under the reserve\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55249,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-developers-jointly-bid-over-1-billion-for-queenstown-site\/","url_meta":{"origin":51526,"position":1},"title":"Foreign developers jointly bid over $1 billion for Queenstown site","date":"May 18, 2017","format":false,"excerpt":"\r The top bid of just over $1 billion for the Stirling Road site translates to a land price of about $1,050 psf. (Photo: URA) The tender for a 2.11ha residential site at Stirling Road in Queenstown attracted substantial interest from developers, with a total of 13 bullish bids submitted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32917,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/margaret-drive-reserve-list-site-triggered-for-sale\/","url_meta":{"origin":51526,"position":2},"title":"Margaret Drive reserve list site triggered for sale","date":"November 4, 2016","format":false,"excerpt":"\r A developer committed to a minimum bid of about $185.76 million for the 0.48ha site in Queenstown. Source: URA A 0.48ha reserve list site at Margaret Drive in Queenstown has been triggered for sale, after a developer committed to a minimum bid of about $185.76 million in the public\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37204,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-receives-14-bids-for-margaret-drive-site\/","url_meta":{"origin":51526,"position":3},"title":"URA receives 14 bids for Margaret Drive site","date":"December 6, 2016","format":false,"excerpt":"\r The 0.48ha site is within proximity to two MRT stations. Source: URA The tender for a residential site at Margaret Drive in Queenstown closed on Tuesday (6 December) after attracting 14 bids from developers, said the Urban Redevelopment Authority (URA). MCL Land (Regency) submitted the top bid of $238.39\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52468,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-2-housing-sites-for-sale\/","url_meta":{"origin":51526,"position":4},"title":"URA launches 2 housing sites for sale","date":"April 21, 2017","format":false,"excerpt":"\r Two housing sites at Stirling Road and Lorong 1 Realty Park were launched for sale by public tender by the Urban Redevelopment Authority (URA) on Thursday (21 April). Offered on a 99-year leasehold tenure, both sites can potentially yield about 1,160 units. The 21,109.5 sq m plot at Stirling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-to-launch-tender-for-residential-site-at-west-coast-vale\/","url_meta":{"origin":51526,"position":5},"title":"URA to launch tender for residential site at West Coast Vale","date":"December 5, 2017","format":false,"excerpt":"\r The Urban Redevelopment Authority (URA) has accepted an application from a developer to put up the residential site at West Coast Vale for sale by public tender. This comes after the developer committed to bid a price of not less than S$379.988 million in the tender for the site.\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\/51526"}],"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=51526"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/51526\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=51526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=51526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=51526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}