A 4,666.6 sq m residential site has been launched under the Government Land Sales (GLS) programme in Jalan Bunga Rampai just off Bartley Road.
The 99-year leasehold site is situated near the Bartley viaduct.
Jalan Bunga Rampai site to join other Bartley GLS site nearby
Jalan Bunga Rampai, Bartley. Picture: URA
This latest offering under the GLS programme joins many other private residential sites in Bartley which were all built on previous GLS sites.
These include Bartley Ridge, Botanique at Bartley and Bartley Residences. Most of the developments were selling in the secondary market for an average between $1,350 psf to $1,515 psf.
While analysts note that this site is one of the smallest residential sites under the GLS programme for the second half of this year, they are nevertheless hopeful for top bids coming in between $900 psf to $950 psf ppr or $95 million to $100 million.
Projected selling prices for the new development on the site could reach up to $1,550 psf.
The small site offers unblocked view and proximity to MRT station
Despite its relatively small size, the site is located conveniently near the Bartley MRT station and Tai Seng MRT station and also offers unblocked views overlooking a low-rise landed housing estate. It has a maximum gross floor area of 9,800 sq m and could potentially yield 115 new units.
Schools nearby include Maris Stella High School and the Paya Lebar Methodist Girls’ School. It is also located within the vicinity of the Paya Lebar Industrial Park and Tai Seng Industrial Estate which could raise the rental potential of residential units here.
There are also a number of eateries nearby and the upcoming Bidadari Park is just a short distance away.
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