On September 11, Savills Singapore announced the launch of 10A Jalan Ampas for sale by tender at a guide price of $16.8 million. The freehold property has an area of 1,121.3 sq m and under the 2014 Master Plan is zoned for ‘Business 1’, with an allowable gross plot ratio of 2.5.

However, according to Savills, subject to relevant authority approval and payment of development charges, the URA may consider rezoning the site into ‘Residential’, with a gross plot ratio of 2.8. On this basis, development charges are estimated at about $16.86 million, translating into $996 psf of allowable GFA. The maximum allowable gross floor area will be about 33,974 sq ft, and, subject to approval, up to 44 apartments of average 70 sq m can be built on the site.

The site is located close to Zhong Shan Mall, Whampoa Market, and the upcoming Health City Novena. It is also close to Hong Wen School, Pei Chun Public School, SJI International, and CHIJ Primary (Toa Payoh).

Neighbouring sites redeveloped from ‘Business 1’ zoning into residential projects include The Viridian and The Interweave. The newest launch in the Balestier area is City Suites, where transactions this year ranged between $1,725 to $1,807 psf.

The tender will close on October 13.