Margaret Drive GLS Site

A prime residential site at Margaret Drive has been launched for sale under the URA Confirmed List of the 1H2024 Government Land Sales (GLS) programme. This 99-year leasehold site presents a compelling development opportunity, with the potential to yield approximately 460 residential units.

Analysts anticipate strong interest from developers, particularly in light of the robust performance of the surrounding HDB estates. Million-dollar resale transactions in nearby Skyville @ Dawson, Skyterrace @ Dawson and Cityvue @ Henderson highlight the area’s desirability and potential buyer pool, specifically HDB upgraders seeking more spacious accommodations.

The future development’s proximity to Queenstown MRT Station and reputable schools like Queenstown Primary and Secondary School and Queensway Secondary School further enhances its appeal. The site is also strategically located near the Queenstown precinct, which has witnessed significant property value appreciation in recent years.

Market experts predict competitive bidding for the site, with estimates ranging from $1,150 to $1,250 psf ppr. This translates to a total price between $494 million and $537 million for the land parcel.

Overall, the Margaret Drive GLS site presents a unique opportunity for developers to capitalize on rising demand for quality residential units in a highly sought-after location.