URA launches tender for prime Cuscaden Road site

By
/ EdgeProp
|
February 27, 2018 7:06 PM SGT
On Feb 27, URA launched the residential site at Cuscaden Road for sale by public tender. The prime 61,597 sq ft site has a frontage along Cuscaden Road and Orchard Boulevard, as well as within walking distance of the upcoming Orchard Boulevard MRT station. Based on a plot ratio of 2.8 and gross floor area of 172,472 sq ft, the 99-year leasehold site can be developed into a new residential project with 170 units.
The site is flanked by YTL Singapore’s 77-unit luxury condominium 3 Orchard-by-the-Park and the 56-unit apartment Park House, where owners are attempting a collective sale.
“The Cuscaden Road site is arguably the most upmarket among the Confirmed List sites in the 1H2018 GLS [government land sales] programme,” notes Nicholas Mak, ZACD Group executive director. “It is also extremely rare for a vacant condominium land parcel at this prime location to be offered for sale, either through a GLS or en bloc tender.”
ADVERTISEMENT
Aerial view of the Cuscaden Road site (Credit: URA)
As such, Mak expects the site to draw strong interest with between 10 to 18 bids, and reckons a reasonable top bid to be in the range of $310 million to $326 million, or $1,800 to $1,890 psf per plot ratio (psf ppr).
The tender for the Cuscaden Road site will close on April 26.
Follow Us On
Our Sites
Edgeprop.sg (previously known as The Edge Property Singapore) – is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.
Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s the most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions.
Make better decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all things en bloc, including Singapore en bloc news, trends and our En Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.
Web Version 3.7.13
Aside from that, EdgeProp also offers a market trend tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heat map that lets you find out where all Singapore’s most popular property sales locations are, a HDB lease tool that lets you calculate your HDB tenure, an affordability calculator, and a property watch list to track your preferred Singapore property by project or location, as well as new launches.
On the lookout for undervalued property or buying to rent? EdgeProp’s powerful search filters let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools and childcare centres, or a good-value condo with a sea view – so that you find exactly what you are looking for.