Thiam Siew Avenue Condo

 

Savills Singapore disclosed that two freehold residential plots on Thiam Siew Avenue are available for sale by public tender, with potential developers having the option to buy them together or separately.

The North plot with a GFA of 405,536 square feet and a development charge (DC) of $20.2 million, while the South plot has a development charge (DC) of $19.1 million and a GFA of 384,791 square feet. Savills Singapore.

The North’s 135,359 sq ft plot has a maximum gross floor area (GFA) of 379,006 sq ft and a $145.7 million construction fee.

Meanwhile, the 128,435 sq ft plot on the south side has a maximum GFA of 359,618 sq ft and a $138.3 million development fee.

The North plot has a maximum permitted GFA of 405,536 sq ft, whereas the South plot has a GFA of 384,791 sq ft, including the 7% area for balconies. Balconies are expected to cost $20.2 million and $19.1 million, respectively, in development charges.

Developers may take use of the site’s outstanding characteristics, according to Galven Tan from Savills.

He went on to say that since the tender isn’t subject to Strata Titles Board clearance, it gives developers more deal certainty.

 

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Thiam Siew Avenue Location

 

The plots, which are located just off Tanjong Katong Road in excellent District 15 which also highlights Tembusu Grand by the renowned City Development Pte Ltd.  Thiam Siew Avenue plots have a total land size of about 263,794 sq ft and are designated for “Residential” use under the 2019 Master Plan, with a gross plot ratio of 2.8.

Dakota MRT Station and Paya Lebar Interchange MRT Station are nearby, while the East Coast Parkway (ECP) and Pan Island Expressway link the locations to the rest of Singapore (PIE).

 

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Potential of the Site

The land plot on the north can accommodate 414 dwelling units based on an average size of 85 sq m, while the land plot on the south may produce 393 units, subject to appropriate authorities’ permission.

Thiam Siew Avenue plots are “nested inside an established residential enclave enjoying access to a multitude of facilities available at Katong precinct, which is rich in history, and the Paya Lebar Central area,” according to Savills.

“They are set to profit from their near vicinity to Paya Lebar Central area, URA’s first Business Improvement District (BID) trial project outside the CBD,” according to Savills.

 

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