23 September 2021 – Savills Singapore, as the exclusive marketing agent, is pleased to launch two freehold, regular residential development sites at Thiam Siew Avenue via a Public Tender exercise on 24 September 2021.
Located just off Tanjong Katong Road and in the heart of prime District 15, the sites are nestled within an established residential enclave enjoying proximity to a plethora of amenities available at Katong precinct, which is rich in heritage, and the Paya Lebar Central precinct. While offering a level of privacy away from main thoroughfares, the sites still enjoy excellent connectivity to all parts of Singapore via ECP and PIE and are well served by Paya Lebar Interchange MRT Station (EW8/CC9) and Dakota MRT Station (CC8).
Under the 2019 Masterplan, the sites are zoned “Residential” with an allowable gross plot ratio of 2.8 with a combined land area of approximately 263,794 sq ft. Prospective developers have the option to either acquire the sites individually, or jointly, which allows flexibility in planning and market positioning of the future development(s).
Kindly find the salient information on the plots here.
Based on an average size of 85 sqm, the sites can accommodate approximately 414 and 393 units respectively for the North and South plots, subject to relevant authorities’ approval.
The sites are poised to benefit from their close proximity to Paya Lebar Central precinct, URA’s first Business Improvement District (BID) pilot programme outside the CBD. The precinct is envisaged to be developed into a lively commercial centre with vibrant and attractive community spaces. This paves the way for greater liveability and interconnectedness and will provide an attractive and accessible location for businesses which do not need to be within the CBD.
Galven Tan, Deputy Managing Director, Investment Sales & Capital Markets, said: “This exceptional opportunity offers developers scale and flexibility, to capitalise on the excellent attributes of the sites to develop 1 or 2 upscale high-rise projects. District 15 is a mature and established neighbourhood which is rich in culture and heritage and offers excellent connectivity and convenience. In fact, Thiam Siew Avenue is a short eight to ten minutes’ drive to Suntec City and the Central Business District.”
“Furthermore, the tender offers developers deal certainty as it is not subject to Strata Titles Board approval”, Galven added.
Savills Singapore is the exclusive sole marketing agent for this Public Tender exercise.The tender closes on Thursday, 18 November 2021, at 3pm.
For a video of the property please click here.