A residential site at Jalan Bunga Rampa that may yield about 115 housing units has been found available through public tender, shown that the Urban Redevelopment Authority (URA) on Thursday (29 August).
Having a place of 4,666.6 sq m, the supported listing website features a maximum gross floor area of 9,800 sq m and a rental period of 99 years.
Tricia Song, head of research to Singapore in Colliers International, described the website as the tiniest residential website about the Government Land Sales (GLS) Programme for the next half of the year.
She noticed that the website can be found next to the Bartley Viaduct along with a little park.
Much like 99-year leasehold private residential job nearby comprise Bartley Ridge, Botanique in Bartley, and Bartley Residences. These jobs can also be built on GLS websites and also have been transacted on the secondary market for an average cost of between $1,350 and 1,515 per sq ft (psf).
For this, Song expects the website to pull a high bid of $900 to $950 psf per plot ratio or $95 million to $100 million, using a possible average selling price of $1,550 psf.
“Taking under account the answer to suburban websites post-measures and the palatable quantum of the website, we expect it to draw to eight bidders,” she said.
She added that investors”may also think about the possible rental catchment of this nearby Paya Lebar Industrial Park and Tai Seng Industrial Estate”.
The tender for your website closes on 9 January 2020.
“The tender final for this website is going to be batched together with the other home website in Irwell Bank Road that will be launched available in October 2019 beneath the 2H2019 GLS Programme,” shown URA.