URA studying plans for prime sites

Published June 11, 2007

URA studying plans for prime sites

State land in Scotts Rd, Goodwood Hill, North Bridge Rd areas under study

By ARTHUR SIM


(SINGAPORE) More prime sites could be made available if ongoing studies by the Urban Redevelopment Authority (URA) on some of these potential sites prove feasible.

So far, URA has revealed that it is studying the areas around Scotts Road and Goodwood Hill, as well as around Capitol Theatre and Capitol Centre.

URA said: 'For both studies, they involve the future redevelopment plans for only the state-owned land and properties within the respective areas.'

The URA would not say if these are part of a larger urban planning study, but it is known that a new Master Plan is expected in 2008.

The Master Plan, which was last revised in 2003, is the statutory land use plan which guides Singapore's development in the medium term, over the next 10 to 15 years. It is reviewed every five years, and translates the broad, long-term strategies set out in the Concept Plan into detailed implementable plans. It shows the permissible land use and density for every parcel of land here.

For the area comprising Capitol Theatre and Capitol Centre on North Bridge Road, URA says that the site has not been gazetted for conservation. It has been zoned for commercial use but a gross plot ratio (GPR) has not been assigned yet.

The GPR could have a bearing on the redevelopment potential on the particular site as well as surrounding areas. Knight Frank director (research and consultancy) Nicholas Mak said: 'Once you up the plot ratio of one site, you might have to do it for the whole street.'

CapitaMall Trust (CMT) does have plans to partially redevelop Funan DigitaLife Mall on North Bridge Road.

It is understood that under current planning parameters, existing building height limits have put some restrictions on its plans. Revised GPR could also see CMT build an even bigger building on the site.

An indication of how soon redevelopment could take place would be the length of the leases. The leasing agent for the state-owned properties is the Singapore Land Authority.

For Capitol Centre, currently home to TMC Academy, its spokesman said it had just renewed its lease for another year. 'We don't know what happens after that,' said TMC Academy.

Leases for the colonial bungalows on Scotts Road, now being used as F&B outlets, are even shorter. BT learned that some tenants have been told their leases will expire in September.

The area under study also includes Goodwood Hill, a neighbourhood of colonial bungalows for residential use. It is not known how many 'black-and-white' bungalows there are on state-owned land in Singapore. But URA said that some of these, including those at Scotts Road and Goodwood Hill - which are not gazetted for conservation - are within sites where 'long-term plans are still being studied'.

Perhaps more important is that the areas along Scotts Road may not be maximised to their full potential yet. According to the Master Plan 2003, there are still large tracts of land around Newton MRT Station still undeveloped and subject to detailed control.

Recent developments on Scotts Roads have indicated that the area could be ripe for redevelopment.

The former Hotel Asia, being rebuilt by Hayden Properties into a luxury condo, could set a new benchmark for residential properties there if the developer achieves its target of $4,000 psf for the units.

The area also includes the Environment Building, home to the Ministry of Environment and Water Resources (MEWR). A spokesman for MEWR said it has 'no immediate plans to vacate its premises'.

On what to expect in next year's Master Plan, Mr Mak said he did not think there was pressure to add more residential sites to the government land sales programme as there are already many collective sale sites being redeveloped.

'This time round, they could increase the plot ratio in some commercial areas to spur redevelopment. I think the focus could be on Marina Bay and New Downtown,' he added.

is this good news for cairnhill properties?

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Originally Posted by Unregistered

is this good news for cairnhill properties?

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Think this is good news for properties like Scotts Highpark, Gloucester Mansion, as well as those around Monk's Hill School, all of which are near the "large tracts of land around Newton MRT Station still undeveloped and subject to detailed control". Not forgetting of course, the old refurbished walk-ups next to the Newton Hawker Centre car park.

How about 28 Scotts? Currently selling S$2,500 psf. Our PM and MM both have a unit each in the development I hope until now?

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Originally Posted by Unregistered

How about 28 Scotts? Currently selling S$2,500 psf. Our PM and MM both have a unit each in the development I hope until now?

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scotts28 - wow, the prices have moved up alot in the last 6 months. i suppose the coming changes should bode well for this development.