Freehold residential site in Bukit Batok on the market for $42 mil

Within a broader 1km span, recent release consist of the 633-unit Forett @ Bukit Timah by Qingjian Realty (South Pacific Group) and also Prennial Real Estate Holdings which introduced in August 2020 as well as has actually seen over 600 units used up to day at an average price of around $1,982 psf. One more development, the 258-unit Verdale, likewise introduced in Sept 2020 by joint developers COLI Singapore as well as CSC Land Group. The venture has actually since sold out, with prices equating at around $1,800 psf.

According to unique promotion agent SRI, the overview price for the site works out to a land price of concerning $1,127 psf per plot ratio, taking into account the added porch GFA and the development charge payable.

Bruce Lye, watching over partner at SRI, assumes the site to draw strong interest from developers, given the uncommon supply of personal non commercial land in the Bukit Batok neighbourhood. “Both the cost quantum of the site and the prospective number of brand-new units that can be built are within the pleasant place,” he claims. Based on relevant authorities’ approval, a new household advancement might potentially produce 57 brand-new home units based on the current URA standards.

An estate household site at 30 Bukit Batok East Avenue 6, off Old Jurong Road and Upper Bukit Timah Road, is up for sale via public tender with a guide rate of $42 million.

Additionally, Lye points out that the property has a solitary owner, which will certainly supply assurance to the purchase and also timeline.

A single-storey vehicle workshop with a three-storey annex structure presently remains on the site. The building is leased to Autobacs Singapore, a Japanese vehicle company.

The general public tender exercise for the project will certainly close on Sept 21 at 3.30 pm.

Terra Hill condominium

Low Choon Sin, managing companion at SRI Capital Market, mentions that the site’s place adjacent to the Bukit Batok Nature Park will give developers with a chance to redevelop the site into a shop project that enjoys lavish plant views and also a large front view of approximately 120m.

A check on EdgeProp LandLens shows that there are merely 308 condo units available within a 500m distance of the location throughout 2 projects – Park Natura which has 192 units and also Sherwood Condo which has 116 units.

The site figures roughly 37,575 sq ft feet and also is zoned for property use with an allowable plot proportion of 1.4. The utmost permissible gross floor area (GFA) is around 56,287 sq ft, inclusive of added terrace area.

“There is quite restricted exclusive household project along Bukit Batok East Avenue 6, where Park Natura Residence is possibly the only development along the road that was finished more than ten years earlier,” Low adds.

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