Release of two residential sites at Redhill and Sembawang
By Tan Chee Yuen
/ The Edge Property |
The Urban Redevelopment Authority (URA) has launched the residential site at Alexandra View for sale by tender. The residential plot at Alexandra View is sitting right next to Redhill MRT station. The 90,417 sq ft 99-year leasehold site has a maximum gross floor area of 442,967 sq ft and could yield 400 units. It is zoned for residential with 1st storey commercial use. The tender exercise will close on November 12, 2015 at 12pm.
Based on URA caveat records in 2015 to date, the median price for comparable projects near the subject site is around $1,700 psf. However, as there is still a large balance of unsold units in the vicinity, the final selling price might fall on the conservative end of the range. In view of this, the bid price of the land could be on the lower end of the $800 to $900 psf ppr.
Separately, residential parcel at Jalan Kandis near to Sembawang Park has been made available for sale on the reserve list. The 75,347 sq ft 99-year leasehold land has a maximum gross floor area of 106,197 sq ft and could yield an estimated 115 housing units.
Alexandra View site
Source: URA
Jalan Kandis site
Source: URA
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