Bernam Street New Condo

ABOUT THE GOVERNMENT LAND SALES

Bernam Street have been launched into the Government Land Sales (GLS) programme last May 2019. This site which have a massive land size of 3,846.2 square meters showcased a promising potential in the area.

Upon its launch, it has successfully attracted four interesting bids from various developers. A joint bid from Coli (Singapore) Pte Ltd and CSC Land Group came in fourth at a bid price of $343.30 million. This is followed by another joint bid from Far East Commercial Trustee & Laguna Garden Limited, and Vesta Sg Residences Pte Ltd which came at a final bid of $373.33 million and $405.82 million respectively.

The winning bid came from the renowned HY Realty Pte Ltd which offers an amazing bid of $440.9 million. This price translates to a $1,463 per square foot per plot ratio. With a booming yet careful approach on 99-year leasehold GLS sites in the area, it is noted that it can attract and offer more that what it is bargained for.

Since the launch of the 2019 Draft Master Plan, sites from the GSL programme have been highly sought by various developers. The tender was closed on September 5 and awarded the site to the winning developer on September 12, 2019.

 

 

BERNAM STREET LOCATION

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Bernam Street have a wide range of amenities in its surrounding neighborhood. This address is easily reached through different connectivity that are conveniently enclosing the property. Both commuters and vehicle owners can enjoy the same level of convenience when they travel to their chosen destination.

Just close to the property site are MRT stations that awesomely offers comfort of travel to commuters. These stations include Tanjong Pagar MRT, Maxwell MRT, Clarke Quay MRT and Shenton Way MRT which sits across an abundant array of bus stops. Enclosing the property are different routes which include the main road Central Expressway (CTE). Links to other nearby destinations are through the Raffles Quay and Keppel Viaduct.

All the way to the centre of the area are various shopping malls. This ensure that entertainment and leisure are possibly within a hand’s reach. Malls of various retail shops, dining hubs and recreational spots are only within a two-minute drive from the site address. In the list are malls like the Tanjong Pagar Plaza, Amara Shopping Centre and Hong Lim Food Centre & Market, and many more.

To balance the ambiance, the residents are also within close proximity to various educational institutes that offers exciting ang high quality standards of teaching. Schools like Coleman College, Cantonment Primary School, New Asia Academy and a lot more allows the residents in the area to chose the ideal program suitable for them.

 

MODE OF TRANSPORT

• Central Expressway (CTE)
• Keppel Viaduct
• Raffles Quay
• Maxwell MRT
• Tanjong Pagar MRT
• Marina Bay MRT
• Clarke Quay MRT
• Shenton Way MRT

NEARBY AMENITIES

• Amara Shopping Centre
• Tanjong Pagar Plaza
• Hong Lim Food Centre & Market
• Cantonment Primary School
• Coleman College
• Gardens by the Bay
• Singapore General Hospital
• Foodie Market Place
• Mount Faber Park

 

POTENTIAL OF THE SITE

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The Bernam Street site is an eye-catching address in the densely commercially populated area of the Shenton Way precinct. This property have a great potential to be redeveloped into a luxurious and high-end property. Based on the 2019 URA Master Plan, the property is zoned for residential use with provision for commercial space.

With a majestic land size of 3,846.2 square meters, this area has a maximum allowable gross floor area of 28,001 square meters.This new project can potentially yield about 325 units of residence with a spacious commercial space on its first level.

With the success of various 99-year leasehold sites and en blocs in the area, there is an excellent opportunity for a great sell on the units for this future project. If going to based on the sale price of the GLS site, there is a great potential to sell the units at an average price of $2,430 per square foot with a breakeven amount at $2,100 per square foot.

Another attributing factor to the exceptional potential that this new development have is its proximity to Tanjong Pagar MRT and Prince Edward MRT stations, and its notable distance to the Central Business District.

 

BERNAM STREET NEW CONDO REGISTRATION OF INTEREST

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REVIEW OF BERNAM STREET NEW CONDO