Singapore Freehold Site With Sea View Is Up For Sale

Singapore Brownish yellow Park, a cumulative sale site along Amber Road, has simply been launched available by tender by sole marketing representative JLL. Integrated in the mid 1980's, Amber Park includes 200 units housed in two 27 storey home. Under the 2014 Master Plan, the 213,670 sqft site is zoned 'Residential' with a gross story proportion of 2.8. It could be redeveloped to accommodate a high-rise apartment development of around 24 to 26 floors, depending upon the technological height controls imposed by the pertinent authorities. The Amber Road area is a recognized personal property enclave that takes pleasure in a strong complying with from both locals as well as expatriates alike, because of its proximity to the Central Business District (CBD), its appeal of being just minutes' stroll to the beach at East Coast Park and also the simplicity to the airport. He includes: "This Amber Park site can possibly be among the last cumulative sale sites with a land area over 200,000 sqft in this precinct. As far as we know, the last site with a land area above 200,000 sqft that was negotiated in this area was that of the ex-HUDC Amberville in 2006, which has actually now been redeveloped into Silversea. Furthermore, Amber Park, with its huge land area as well as estate tenure, stands out among the many ex-HUDC or leasehold collective sale websites that are currently being marketed".

"We expect strong interest for this site. The proprietors' reserve price of $768 million mirrors a land rate of approx. $1,284 psf each plot ratio, based upon the allowable gross story proportion of 2.8. Development fees are not payable for the proposed redevelopment," proceeds Mr. Tan. He additionally proceeds: "Amber Park has a high advancement baseline equal to a story proportion of around 2.843. It is, consequently, shielded from the half-yearly advancement fee rate alterations by the Chief Valuer, with the following hike anticipated on 1 September 2017". He better proceeds: "Amber Park has a high development baseline equal to a plot ratio of approximately 2.843. It is, therefore, insulated from the half-yearly advancement fee rate alterations by the Chief Valuer, with the next hike anticipated on 1 September 2017". Brownish yellow Park's site appreciates double frontages from Amber Gardens and Amber Road, with the primary access currently taken from Amber Gardens. Developed buying services, prominent restaurants, and also hip cafes are readily obtainable with Parkway Parade, Marine Parade Central, and also i12 Katong, all located within walking distance to Amber Park.

At the exact same time, Amber Road is only some 10 minutes' drive to the city centre, and also the location is well served by public buses going into the CBD. On top of that, the residents in the area are anticipating the brand-new Thomson-East Coast Line that is presently incomplete and also is anticipated to be all set in stages from 2023. The future Tanjong Katong MRT terminal is located less compared to 200 meters far from the Amber Park site. "Subject to layout and also approval from the Urban Redevelopment Authority (URA), a developer could possibly set up the allowable gross flooring location (GFA) of 598,300 sq feet into close to 800 houses with an ordinary size of 70 sqm. The site's 80 meter road frontage onto Amber road could offer designers some level of versatility in designing the brand new apartment or condos, such that the number of sea facing systems are taken full advantage of. The Parc Botannia Condominium is positioned near the Amber road, it is brand new condos also. The brand new skyscraper towers might provide be positioned to neglect the Chinese Swimming Club's low-rise facilities that occupies the site next door and diagonally throughout the road," claims Mr Tan.