Bukit Timah Link GLS site received a top bid of S$1,343 psf ppr
URA just recently shut the GLS tender for Bukit Timah Web Link as well as Hillview Increase websites on 3 November 2022. Both websites were the very first to be introduced for tender under the H2 GLS Confirmed List on 31 August 2022.
The Bukit Timah Link site brought in 5 proposals, with the leading bid sent by Bukit One, a subsidiary of Bukit Sembawang Estates at S$ 200 million or S$ 1,343 psf ppr.
On the other hand, 4 bids were sent for the Hillview Surge site, with Far East Organisation and Sekisui Home putting the highest possible quote at S$ 320.78 million or S$ 1,024 psf ppr.
Referring to the variety of proposals obtained for both websites, Steven Tan, CEO of OrangeTee as well as Tie, commented that the need for the land parcels was healthy and balanced.
” As the sizes of the parcels are not large, designers might have been attracted by the reduced dangers and expenses involved. The land parcels are positioned near MRT terminals with sufficient features. Better, programmers might have self-confidence that the projects will certainly be well received when released an offer for sale considering that there is restricted supply in the area. Additionally, jobs around are either fully or considerably marketed.”
The tender closing comes after the September cooling actions as well as modifications in the interpretations of the gross flooring area.
Bukit Timah Link website
Extending 4,611.1 sqm and a maximum gross floor location of 13,834 sqm, the Bukit Timah Link website is approximated to yield 160 systems. It lies within walking distance of Beauty World MRT.
Especially, it is located behind The Linq @ Charm Globe and also contrary to the mixed-use growth of The Book Residences at Jalan Anak Bukit. The Linq @ Beauty World has actually given that sold out, while The Get Residences is expected to release in Q1 2023.
Lee Sze Teck, Senior Citizen Director of Research Study at Huttons Asia, commented that the little size, as well as the palatable quantum of the site, attracted numerous bidders. He additionally highlighted the various facilities in the location, such as the nearby MRT as well as expressways, as well as the Bukit Timah Nature Book, and also the Rail Passage. The prominent Pei Hwa Presbyterian Primary School is within a brief strolling range too.
” The upcoming mixed-use development at Jalan Anak Bukit, The Reserve Residences, Digital Res will bring in much more retail area as well as area areas also.”
Tan added, “A shopping mall and transport center will certainly be constructed beside this job, which will be a strong selling point for the development.”
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