Dunearn Courts. Mayfair Gardens. And now another piece of land in the prime district of Bukit Timah is up for sale.
The Crest
1.9 hectare site near Sixth Avenue MRT station
Besides being near the Sixth Avenue MRT station, the land site which was triggered for sale at its minimum price of $448.8 million could potentially yield 455 new units. The site is also near 2 good class bungalow estates. The lack of high-rise or large condominium developments in the area could make this site a valuable piece of land.
Up to 15 developers are expected to bid on the 1.9 hectare site which has a permissible gross floor area of 33,358 sq m. At a land rate of $1,249.92 psf ppr, the Fourth Avenue site has drawn considerable interest.
2 other sites up for tender under GLS programme
Under the Government Land Sales (GLS) programme, 2 other sites have also been put up for tender last week.
One of the sites is in Chong Kuo Road, is in the North-east region near Sembwang Country Club and Orchid Country Club. The 99-year leasehold 4,282.9 sq m site has a maximum building height of 5 storeys and a permissible gross floor area of 5,997 sq m.
The other site is near in Cuscaden Road, near Orchard Road. It is near the upcoming Orchard Boulevard MRT station and the Botanic Gardens. Analysts expect strong interest for this site due to the limited supply of private non-landed residential units in the area. If launched, estimated land prices are expected to range between $250 million to $270 million.
