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- Sixth Avenue Centre seeks S$85mil in en bloc tender
Located at 805 Bukit Timah Road, Sixth Avenue Centre, was launched for collective sale via tender with a reserve price of S$85 mil. The mixed-use development sits on a trapezoidal land plot of 15,009 sq ft, which is zoned for commercial and residential use. Based on a plot ratio of 3.0, it has a maximum allowable gross floor area (GFA) of 45,028 sq ft. Up to 40% of the total GFA is allowed for commercial use with the remaining 60% for residential purposes.
The reserve price translates to a land rate of S$1,861 per square foot per plot ratio (psf/pr). This is inclusive of a nominal development charge payable to optimise the plot ratio of 3.0 and for the bonus balcony space. The collective sale tender will close on Jan 6, 2022.
- Thomson View Condominium up for collective sale with a reserve price of S$950 mil
Thomson View, a 99-year leasehold property comprising 200 apartments, 54 townhouses and a shop unit has been launched for collective sale. The reserve price reflects a land rate of S$1,293 psf/pr, inclusive of an additional 7% of bonus GFA for private outdoor spaces, an estimated differential premium of S$296 mil for intensification, and S$324 mil premium to upgrade to a fresh 99-year lease.
Thomson View, a 99-year leasehold property comprising 200 apartments, 54 townhouses and a shop unit has been launched for collective sale. The reserve price reflects a land rate of S$1,293 psf/pr, inclusive of an additional 7% of bonus GFA for private outdoor spaces, an estimated differential premium of S$296 mil for intensification, and S$324 mil premium to upgrade to a fresh 99-year lease
Under the Urban Redevelopment Authority’s Master Plan 2019, the 540,320 sq ft site is zoned for residential use with a gross plot ratio of 2.1. This allows a GFA of 1.135 mil sq ft, which could yield up to 1,240 new units, subject to approval from the authorities. The tender will close on Jan 13, 2022
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