( An LRT train in Singapore. Image courtesy of Calvin Teo.)
Developers are preparing bids for a 1.27 ha site at the junction of West Coast Link and West Coast Crescent – situated just opposite West Coast Park. The area has a Gross Floor Area (GFA) of 35,456 sqm, which can yield 360 units. Industry insiders tell The Straits Times that the natural offering found in nearby West Coast Park and Clementi Woods will paint a greener and more open scenery for future residents. Additionally, with neighbouring Japanese schools Waseda Shibuya High School and The Japanese Supplementary School, the location will surely gain popularity among the local Japanese community. As such, the site is estimated to bring in bids of $214-221 million – or $560-580 per sq ft (psf) per plot radio (ppr). It is assumed an eventual selling price of $1,000-1,100 psf.
In the meantime, a 1.54 ha plot at the junction of Choa Chu Kang and Phoenix is also up for bids. With a GFA of 32,310 sqm, it can potentially yield 335 units. The area is also conveniently situated within walking distance of the Phoenix and Teck Whye LRT stations. SLP International has estimated the site to draw in $425-500 psf ppr (or $148-174 million) by basing the price on predecessor condominium The Tennery, which had an average selling price of $1,160 psf. CB Richard Ellis Research gave a more optimistic prediction of $208-222 million bids, or $600-640 psf ppr, reasoning that the site is surrounded by landed homes – namely Pavilion Park and Phoenix Heights Estate – and will inherit various amenities and facilities for toeing the line between the Choa Chu Kang and Bukit Panjang estates.
The tender for the West Coast site will close come June 23, while the tender for the Choa Chu Kang site will close on June 30.