Plum mixed-use site at Woodlands Square available on Reserve List
By Feily Sofian
/ URA, The Edge Property |
The URA has made available a mixed-use site at Woodlands Square for sale under the Reserve List. Located next to Causeway Point and Woodlands MRT station, the site has a maximum GFA of 843,319 sq ft. Of this, a minimum 506,000 sq ft must be set aside for office use and a separate 10,764 sq ft for a child care centre.
The remaining GFA may be built as additional office, service apartments and/or residential uses as well as shops and F&B. Serviced apartments and/or residential components must not exceed 252,995 sq ft while shops, F&B or entertainment are capped at 86,111 sq ft. Mixed-use developments such as North Park Residences have traditionally generated strong interests among buyers.
Woodlands Regional Centre is one of the target growth areas in the Master Plan 2014. Comprising Woodlands Central and Woodlands North Coast waterfront, the area is poised to be the next Jurong. Over the next 10 to 15 years, Woodlands Regional Centre will have about 7.5 million sq ft of commercial space and offer approximately 100,000 new jobs.
If triggered, this would be the second commercial site released in Woodlands Regional Centre. The first site was awarded to Far East Organization and Sekisui House joint venture in a tender for $906 psf ppr in April 2014. It is currently being developed into two 16-storey strata office towers with two levels of retail podium called Woods Square. Far East will be launching the office units for sales and lease.
In December 2012, Sim Lian Group paid $1,002 psf ppr for a commercial site in Jurong Regional Centre. Office units in the project – Vision Exchange – sold for a median price of $2,448 psf this year for a 517 sq ft unit.
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Source: URA
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