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Fourth Avenue Site Up for Sale



The next batched land tenders will certainly close on 30 January 2018 for Chong Kuo Roadway, Handy Roadway as well as Sumang Walk (Exec Condominium) land sites.

” The new growth will certainly need to offer at around $2,250 psf, presuming programmer’s profit margin is around 10% of the gross development worth.” Cushman & Wakefield study supervisor Christine Li said.

DBS analyst Derek Tan said, “Nonetheless, seven prospective buyers for the website are still quite decent considered that Royalville land price could have deterred some programmers from coming in.”.

Designer Allgreen Qualities won its 3rd site along Bukit Timah Road within 5 days with its winning bid of $553m or $1,540 psf ppr for the 4th Avenue website.

Although many tasks in the area are of property standing, the place of the 4th Opportunity site is good enough to counter the leasehold condition, Li added.

Nestled in a fully grown exclusive household estate in Bukit Timah, the site can develop an estimated 455 real estate devices as well as has an acreage of regarding 1.9 hectares with a maximum permissible gross floor area of 33,358 square metres.
The leasehold story is positioned following to the Sixth Method MRT Station and also near prominent colleges such as Nanyang Girls’ High Institution, National Junior College, Hwa Chong Institution and also Raffles Girls’ Key Institution.

URA’s Fourth Opportunity website cost $533m. The bidding process stopped working assumptions due to the nearby en bloc sale of Royalville.

The designer also put favourable quotes for Royalville formerly at $1,960 psf ppr, which has actually since elevated expectations of the land bids for this site. Because of this, the site did not obtain as several bidders as previously expected.

DBS additionally noted that Bukit Sembawang sent a bid after a lengthy silence and also was a close second. Its bid cost was just $10m below Allgreen Qualities. The quote spread was 14%.

According to DBS Equity Study, the price is 21% listed below what it spent for the cumulative sale of Royalville, which is located much less than 0.5 km away.

The tender for the land parcel will certainly shut at midday on Dec 5, with a minimal bid cost of S$ 448.8 million. As a typical technique, the URA does not disclose the identities of the candidate who caused the land sale.

SINGAPORE – A property site at Fourth Avenue Residences under the get checklist of the first-half 2017 Federal government Land Sales (GLS) programme was introduced available for sale by public tender on Thursday (Nov 2), the Urban Redevelopment Authority (URA) announced.

The website lies right next to the Sixth Opportunity MRT terminal and likewise within close closeness to several colleges such as Nanyang Primary College, Raffles Girls’ Primary School, Hwa Chong Junior College.

Cushman & Wakefield also stated the leading proposal is still bullish.

(source: Straits Times)



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