Two websites, in Lentor Central and Tampines Street 62 (Parcel A), have been published for sale under the Government Land Sales (GLS) programme to the first half of 2021.
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The Lentor Central website spans 17,279.9 sq m (185,999 sq feet ) having a maximum gross floor area (GFA) of 60,480 sq m, and is forecast to yield about 605 units.
“The final personal non-landed residential GLS website sold close to the Lentor GLS website was the website for Nouvo EC condo, which was offered in February 2001. The limited new housing distribution in this place would draw in land-hungry developers,” remarks Nicholas Mak, ERA Realty mind of consultancy and research.
Mak anticipates the tender for this particular website in order to bring approximately eight to 13 bids, together with the best bid ranging from $573 million to $612 million, translating to $880 to $940 psf per plot ratio (psf ppr).
Meanwhile, the website at Tampines Street 62 is a EC website, occupying a land area of 23,799.2 sq m and a maximum GFA of 59,498 sq m. It’s forecast to yield 590 units.
Mak anticipates that the tender for its EC website in order to draw six to eight bids from developers, together with the best bid which range from $358 million to $371 million ($559 to $580 psf ppr).
“The newest EC job from the Tampines region premiered in January this year, namely Parc Central Residences with 700 housing units. Within three weeks from January to March 2021, developers were able to market 517 units or 74% of their entire number of components at the development, demonstrating the healthy need for cheap EC units at the town of Tampines,” he notes.
Both websites have been carried over in the book list of the GLS programme for the next half of 2020.