Tag Archives: Farrer Road

URA launches tender for sites at Farrer Road and Tai Thong Crescent

The Urban Redevelopment Authority (URA) has launched the residential site at Farrer Road and another residential with 1st storey commercial site at Tai Thong Crescent for sale by public tender today. The sites were made available for sale through the Reserve List system on 30 Apr 2012 and 15 May 2012, respectively.

On 11 July 2012, URA announced that it had received an application from a developer to put up the land parcel at Tai Thong Crescent for public tender at a bid price of not less than $154,474,200.

On 18 July 2012, URA announced that it had received an application from a developer to put up the land parcel at Farrer Road for public tender at a bid price of not less than $28,888,000.

Land Parcel at Tai Thong Crescent (Parcel C)
With a land area of about 0.82 ha, the residential with 1st storey commercial site is expected to generate a gross floor area of about 28,702 m2.
The land parcel is located near Potong Pasir MRT Station and is well connected to major arterial roads and expressways such as Upper Serangoon Road, Pan-Island Expressway (PIE), Central Expressway (CTE) and Kallang Paya-Lebar Expressway (KPE).

Land Parcel at Farrer Road
With a land area of about 0.27 ha, the residential site is expected to generate a gross floor area of about 3,839 m2.
The land parcel is located near Botanic Gardens MRT Station and is well connected to major arterial roads and expressways such as Bukit Timah Road, Dunearn Road, Farrer Road and Pan-Island Expressway (PIE).

Source URA – 2012 Jul 30

 

 

 

Farrer Road site up for sale by public tender

The Urban Redevelopment Authority (URA) will be launching a Reserve List site at Farrer Road for sale by public tender.

This, after it accepted an application from an unnamed developer to release the 99-year leasehold residential site.

URA said a developer has committed to bid at a price of at least S$28.888 million in the tender for the plot.

That works out to S$699 per square foot per plot ratio.

Commenting on the announcement, Dennis Wee Group said the trigger price is about 15 per cent lower than the trigger price for a nearby site at Farrer Drive.

It expects the site to attract up to 10 bidders, with the estimated top bid to be in the range of S$950 to S$1,000 psf.

Lee Sze Teck, senior manager, Research and Consultancy, Dennis Wee Group, said: “The lower trigger price is probably influenced by ‘lacklustre sales at some centrally located projects’ recently, renewed concerns in Europe and the prospect of more sites being released in the second half of the year.

“Furthermore there remain unsold units in the nearby projects. With more buyers looking to buy from older project launches, the developer who triggered the site for sale knows that they have to be competitive in their pricing to win over buyers in this current market.”

The residential site is expected to generate a gross floor area of 3,839 square metres and could accomodate about 40 housing units.

The land parcel is located near Botanic Gardens MRT Station.

Under the Reserve List system, a site will only be put up for tender if the developer’s minimum bid price is acceptable to the government.

URA will launch the public tender for the site in about two weeks. The launch date will be announced later.

Source URA – 2012 Jul 18