New collective sales private land parcels for low density housing

There are 2 plots of private land parcels available for collective sales which are suitable for low density landed and strata housing redevelopment.

The first land parcel is a freehold site in Upper Serangoon consisting of two adjacent plots. One is a 20,228 sq ft site at 1 Surin Avenue with a vacant two-storey detached house. The other is a 22,618 sq ft site which is the former Singapore Crocodile Farm. This site is near to the Kovan and Serangoon MRT stations and Heartland Mall & Nex shopping centres.

This site is asking for around $40 million excluding a $6.1 million development charge, or $934 psf. This plot is zoned for mixed landed housing suitable to be redeveloped into landed housing, townhouses, strata bungalows and cluster houses. If it is used for redevelopment into strata houses, it can be configured into 26 units of cluster terrace houses with sizes ranging from 3,500 to 5,000 sq ft each.

The other freehold site for collective sale is Kismis Lodge in Upper Bukit Timah which is zoned for three-storey mixed landed housing. This is a 70,283 sq ft site off Toh Tuck Road.

It could be redeveloped into about 43 strata terrace houses or 32 strata semi-detached houses. This 64 units of walk-up apartments are expected to sell from $1,281 psf to $1,352 psf whereby each owner will pocket $1.4 million to $1.48 million each.

This site is near to the upcoming Beauty World MRT station and established shopping centres like Bukit Timah Plaza, etc.

19 Jul 2012