New Bugis GLS site set to be hotly contested

The government has released a site along Tan Quee Lan Street for sale by public tender under the Confirmed List of the 1H2019 Government Land Sale (GLS). The 99-year leasehold site in the Bugis area is zoned for residential with commercial on the first storey, and occupies a 124,117.5 sq ft plot.
Picture: URA
This site is expected to be the most attractive of all the sites on the 1H2019 GLS Confirmed List and is expected to be hotly contested, says Tay Huey Ying, head of research and consultancy at JLL Singapore.
The site has a high-rise zone with a maximum building height of 30 storeys, as well as a low-rise zone for a six-storey building. The new development has a maximum gross floor area of 521,295.7 sq ft, and is estimated to comprise up to 580 residential units. The development will not be subject to the rule on minimum unit size as it is located in the Central Area. Up to 21,528 sq ft of the total GFA will be set aside for commercial use.
The successful tender is expected to set “benchmark land pricing for a residential site in the area”, and the site benefits from its superior city-centre location and good connectivity, says Tricia Song, head of research for Singapore at Colliers International.
Credit: URA
The site is located beside the Bugis MRT Interchange on the Downtown and East-West Lines, and will be close to completed integrated developments like DUO by M+S as well as South Beach by City Developments Ltd. It will also be near GuocoLand’s upcoming new integrated development on Beach Road, Guoco Midtown.
The site is expected to contribute to the ongoing makeover in the Beach Road area and offer private housing to support the growing commercial enclave in the area, says Song.
“Taking a leaf from the...