Competitive bids are on the rise.
Colliers International recently released its comments on the 1H 2013 GLS programme announced by the Ministry of National Development.
Here's what the Ms Chia Siew Chuin, Director of Research & Advisory said:
Coronation Road / Victoria Park Road – This is a sizeable plot of land situated in the prime Bukit Timah residential enclave. Surrounded by mostly low-rise housing and good schools, and given the premier address, this site will be very sought after by developers.
It has been more than a year since a landed residential site (the last was in Chestnut Avenue – Michaels’ Residences) was made available on the Confirmed List, particularly one that is situated in the prime district. As such, this comes as a pleasant surprise to the market and offers a good opportunity to developers. Any stigma surrounding the site, which is previously a Chinese cemetery, is expected to ebb once the site is sold and developed – especially since land resource for private landed residential development is fundamentally scarce in Singapore.
As such, this site could possibly see intensely-competitive bids during the tender exercise.
Mount Sophia – Located in the prime district 9, this site is located in a central, unique and quiet residential enclave. The site is made up of the old Methodist Girl's School and Trinity Theological College. A residential condominium built on this plot would be next door to the main shopping belt of Orchard Road, the cultural areas of Little India, the niche cottage businesses in Middle Road and Waterloo Street, Singapore Management University and the School of the Arts. The unique history of the location may also strike a sentimental chord with homebuyers.
Kim Tian Road – Moved from the Reserve List in 2H 2012, the site is located within an established residential enclave in a very central location. It is also walking distance to Tiong Bahru MRT Station, as well as the shopping facilities at Tiong Bahru Plaza. There has not been a private high-rise residence in the Tiong Bahru area for quite some time, and there should be much developer interest in this popular residential location.
Faber Walk – The site is located in the low-rise and quiet neighbourhood of the Faber Walk and Faber Heights estate. Comprising an estimated 210 units, a mid-rise development here would be popular among existing residents in Clementi and Jurong East. That the site is located next to Sungei Ulu Pandan may prove to be an added selling point with homebuyers.
Yuan Ching Road/Tao Ching Road (EC) – With the Jurong Lake District touted as the newest upcoming area to be developed with a myriad of new commercial and recreational activities, it is surprising that the government has not provided more private residential land in such a widely-publicised growth area. In the last 2H 2012 GLS list, the site at Jurong West Street 14/Boon Lay Way (Parcel A) was the sole site made available in Jurong Lake District. With the popularity of ECs and the location of this site in a growth region, the potential attractiveness would translate into strong competition among developers for the site. The proximity to the Chinese and Japanese Gardens would also heighten its potential.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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