A private land site which currently houses the 10-storey Lam Soon Industrial Building with 154 warehouses and light industrial factories is up for tender sale for residential use.
This land parcel located at 63, Hillview Ave is with freehold tenure zoned for residential use according to the 2008 Master Plan.
The selling points for this land parcel are that it has wide road frontage of approximate 200m facing the Hillview Ave in the Upper Bukit Timah area, good land size for creative residential development and near to the upcoming Hillview MRT station.
With a gross plot ratio of 1.92, this site can potentially yield a 10-storey high building with about 370 residential units of 1200 square feet each or more units if it is configure with more smaller units. A developer can also redevelop it into a project comprising townhouses and condo units.
The owner of this 230,915 sq ft freehold land site is asking for S$330 million which is about S$925 per sq ft per plot ratio.
24 May 2012