URA puts up 3 residential sites for sale

[sleek]

URA puts up 3 residential sites for sale By Julie Quek | Posted: 26 April 2011 1225 hrs

SINGAPORE: The Urban Redevelopment Authority (URA) has released three residential sites for sale on Tuesday.

The two land parcels at Flora Drive and Woodlands Avenue 2 are launched for sale under the Confirmed List of the 1st half 2011 Government Land Sales Programme.

Potentially yielding about 380 housing units, the site at Flora Drive is located in a residential estate in Pasir Ris.

With a site area of about 2.68 hectares, it has a maximum permissible gross floor area of over 37 thousand and 5 hundred (eds: 37,545) square metres.

The second site is located at Woodlands Avenue 2 and Rosewood Drive.

The land parcel can potentially yield about 390 housing units.

The site, with an area of about 2.74 hectares, is near the Republic Polytechnic and Singapore American School.

It has a maximum permissible gross floor area of over 38 thousand (eds: 38,333) square metres.

In addition, the third site at Hillview Avenue is placed under the Reserve List for application for sale.

Potentially yielding about 405 housing units, it has a site area of about 1.26 hectares and a maximum permissible gross floor area of 35,416 square metres.

It's located near the future Cashew and Hillview MRT Stations, which are part of the future Downtown Line 2 Mass Rapid Transit system scheduled for completion in 2015.

Earlier this month, the Housing & Development Board has also released a private residential site at Sengkang Square and Compassvale Drive for sale through the Reserve List.

Together, these four residential sites can potentially yield about 1,885 housing units, offering developers and home-buyers with more choice.

-CNA/ck

[azeoprop]

Opps, those who bought the higher priced 'unblocked' units in rosewood suites facing the empty land will have to bear with construction noise and dust for the next 3 years.

[mr funny]

http://www.businesstimes.com.sg/sub/...34340,00.html?

Published April 27, 2011

Govt puts three residential sites up for sale

Together, the 99-year-leasehold parcels could yield 1,175 housing units

By EMILYN YAP


THE Urban Redevelopment Authority (URA) yesterday released for sale three private residential sites which can together yield about 1,175 units.

This comes a day after official data showed a record number of private homes in the pipeline at the end of the first quarter.

Of the three 99-year leasehold sites released, two are on the confirmed list. One is at Flora Drive, with a maximum gross floor area (GFA) of around 404,100 square feet for an estimated 380 units.

It is near the recently launched Hedges Park project, and schools such as The Japanese School. Its tender closes on Jun 16.

Analysts' estimates of the top bid are in the range of $360-470 per sq ft per plot ratio (psf ppr). The site's 'proximity to the Japanese Primary School will attract Japanese expatriates working in the industrial employment centres in the east', said CB Richard Ellis executive director Li Hiaw Ho.

He expects the site to fetch $410-450 psf ppr, assuming that selling prices of units will be similar to those at Hedges Park. Units at Hedges Park were launched for sale at $850-900 psf, he said.

The second land parcel on the confirmed list is at Woodlands Avenue 2/ Rosewood Drive - some distance from Woodlands MRT station but in the vicinity of schools such as Singapore Sports School. It has a maximum GFA of around 412,600 sq ft which can accommodate 390 units. Its tender closes on Jun 7.

Forecasts of the top bid came in at $320-410 psf ppr. A development on this site can offer an unblocked view of the sports school and Seletar Expressway, said Knight Frank head of consultancy & research Png Poh Soon, who expects the highest bid to be around $320-350 psf ppr. This would translate to selling prices of $790-830 psf, he added.

The third site at Hillview Avenue is on the reserve list and will be put up for tender if developers indicate interest. It has a maximum GFA of around 381,200 sq ft for some 405 units. The Hillview and Cashew MRT stations are slated to come up nearby.

There are mixed views on developers' reception to this plot. Cushman & Wakefield senior manager for Asia Pacific research Ong Kah Seng believes the site could be triggered for sale partly because the accessibility of the Hillview area will improve with the completion of MRT stations on Downtown Line 2.

But SLP International research head Nicholas Mak thinks the site may not be triggered this year 'as there is an ample supply of residential (government land sales) sites for sale', he said.

The government has increased the supply of residential sites to prevent runaway home prices. On Monday, URA said there were 68,887 private homes in the pipeline at end-Q1 - the highest recorded since such data was available in 1999 - from projects already under construction and those granted planning approval but where construction had yet to start.

[mr funny]

http://www.straitstimes.com/Money/St...ry_661519.html

Apr 27, 2011

Govt releases 3 housing sites

The land, along with another site released earlier, will boost supply of residential units

By Harsha Jethnani


HUNDREDS of new homes are in the offing after three residential sites were released for sale yesterday.

The plots on the Government's confirmed list - at Flora Drive and Woodlands Avenue 2/Rosewood Drive - will go straight to tender.

A reserve list site at Hillview Avenue in the Bukit Batok planning area will go to tender if a developer submits a bid that meets a minimum threshold acceptable to the Government.

Together with a private residential site released earlier this month at Sengkang Square - also from the reserve list - the four sites could yield about 1,885 homes, the Urban Redevelopment Authority said yesterday.

The land at Flora Drive - it is within a Pasir Ris residential estate - is expected to yield about 380 units on a gross floor area of 37,545 sq m.

The Woodlands Avenue 2/Rosewood Drive site, with a gross floor area of 38,333 sq m, could produce 390 units. It is near Republic Polytechnic and Singapore Sports School.

About 405 units could be built on the Hillview Avenue site, near the Cashew and Hillview MRT stations on the Downtown Line 2, which is slated for completion in 2015. The site has a gross floor area of 35,416 sq m.

Property experts expect the Flora Drive site to fetch the highest bidding price as projects in the area have garnered keen interest.

Although estimates differ, bids are expected to range from $360 per sq ft per plot ratio (psf ppr) to $450 psf ppr for the site, implying a total price of between $147 million and $182 million for the land.

Hedges Park Condominium, launched recently, is near the site. About 65 per cent of the units have been sold, said Mr Png Poh Soon, Knight Frank's head of consultancy and research.

Despite its attractive location, the Hillview site may not be triggered for tender this year 'as there is an ample supply of residential Government Land Sales programme sites for sale', said SLP International's research head, Mr Nicholas Mak.

If it is launched for sale by tender, Far East Organisation may bid aggressively for the site as it is already developing some properties in the vicinity, said Mr Mak. He expects the price of the site to hover between $360 and $400 psf ppr, making an overall price of between $137 million and $153 million.

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