URA launches site at Farrer Park
SINGAPORE (THE BUSINESS TIMES) – The Urban Redevelopment Authority (URA) on Tuesday dispatched a private with-business site for delicate, while JTC dispatched two modern land plots – one through delicate and another for application.
URA set up the Northumberland Road site close to Farrer Park available to be purchased by means of public delicate. The land plot is drafted private with business at the primary story and ranges 8,732.9 sq m.
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The 99-year leasehold site can possibly yield around 405 private units and falls under the affirmed rundown of the second 50% of the 2020 government land deals program, URA said. The greatest gross floor zone is 36,679 sq m, while the most extreme structure tallness is 83 meters Singapore stature datum.
The package is located at the intersection of Racecourse Road and Gloucester Road, askew opposite the Farrer Park MRT station and the Farrer Park Hospital. It is likewise close to Mustafa Center.
To give designers extra time in making their appraisal considering the Covid-19 situation, URA said it will offer a more extended delicate time of a half year. The delicate for the site will close at 12 pm on April 27 one year from now.
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Huttons Asia overseer of exploration Lee Sze Teck said the site may attract up to seven bidders and offers somewhere in the range of $900 and $950 per square foot per plot ratio, given its attractive city periphery location, it being close to the Farrer Park MRT and with a lot of civilities in the zone, for example, shopping centers.
“With the property market turning the corner and unsold units diminishing, engineers will be quick to recharge their landbank,” he added.
Separately, JTC on Tuesday said it has dispatched two modern sites under the second 50% of the 2020 mechanical government land deals (IGLS) program.
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The dispatch is essential for the administration’s endeavors to offer more decisions for mechanical turn of events, JTC noted.
The site at Gambas Way (Plot 3) close to Sembawang Avenue is accessible for delicate, while the site at Tampines North Drive 5 (Plot 11a) is accessible for application.
The two plots have a 20-year residency and are drafted Business 2 (B2) for hefty modern use under the URA’s Master Plan 2019.
The Gambas Way site is the second of three affirmed list sites for the second 50% of the 2020 IGLS program. It possesses a zone of 0.69ha, with a gross plot ratio of 2.0. The delicate for this will close on Dec 22 at 11 am.
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Then, the Tampines North site is the second of three hold list sites under the 2020 IGLS program. It has a territory of 0.54ha and a gross plot ratio of 2.5. The application for this plot will lapse on Dec 31 at 11 am.
Affirmed list sites are dispatched by plan paying little mind to request, while a site on the hold list is set up for delicate when an engineer makes an offer satisfactory to the legislature.
URA launches site at Farrer Park With extra information from The Straits Times.
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