One of the Largest Freehold Residential Redevelopment Site in District 14, Launched for Sale by Tender
SINGAPORE – Knight Frank Singapore, the exclusive marketing agent representing the interests of the owners of Windy Heights via their collective sale committee, is pleased to announce the launch of the sale of Windy Heights, a freehold residential redevelopment site off Jalan Daud, by tender.
Windy Heights is a private residential estate comprising four residential blocks of 192 apartment units, 8 penthouses and 2 commercial units. The site is regular and enjoys dual frontage onto Jalan Daud and Lengkong Tiga, and has a site area of 23,291 sq m (approx. 250,702 sq ft).
Under the 2014 Master Plan, the site is zoned “Residential” with a Gross Plot Ratio (GPR) of 2.1. The current built-up Gross Floor Area (GFA) for the site is verified by the Urban Redevelopment Authority (URA) to be 58,150.74 sq m, which translates to a GPR of 2.4967. Based on the current GFA and assuming an average size of 100 sq m, there is a potential for 581 new residential units upon redevelopment.
Major arterial roads as well as expressways such as the Pan-Island Expressway (PIE), Sims Avenue, Changi Road and Still Road provide seamless connectivity to other parts of Singapore. The site is a 15-minute drive to the Central Business District (CBD) and Changi International Airport. The shopping and entertainment strip of Orchard Road is less than 15 minutes’ drive away.
The site is located along the Eastern Coastal Loop (Siglap Park Connector), which connects to Bedok and East Coast Park, and promotes a relaxing 2-minute cycle or 9-minute walk to Kembangan MRT station. It is only 2 MRT stops to Paya Lebar Business Hub, 3 MRT stops to Changi Business Park, and 8 MRT stops to the CBD, providing great accessibility for car-lite commuters.
The reserve price for the development is S$806.2 million, which translates to a land rate of $1,288 psf ppr. With the inclusion of a 10% bonus balcony GFA, the land rate works out to S$1,171 psf ppr, subject to the authorities’ approval. No development charge is payable due to the high development baseline.
“Windy Heights is one of the largest freehold residential redevelopment sites in District 14. The new development built on site will enjoy unblocked views over low-rise landed houses and apartments in the vicinity. There also isn’t much impending supply in Kembangan and the Bedok area in Districts 14 and 16 from land sales and collective sales, hence new launches in the area are likely to be sought after in lieu of the low supply,” says Mr Ian Loh, Executive Director & Head of Investment and Capital Markets at Knight Frank Singapore.