http://www.businesstimes.com.sg/real...gls-consultant

Jiak Kim, Toh Tuck, Owen sites top draws in GLS: consultant

Edmund Tie & Co says other attractive plots for first half GLS include those at Woodleigh Lane and Fourth Avenue

Friday, March 3, 2017

by Claudia Chong
[email protected]


THE land parcels at Jiak Kim Street, Toh Tuck Road and Owen Road are the most outstanding sites available in the first half of government land sales (GLS) this year, according to property consulting firm Edmund Tie & Co.

Close contenders include the Woodleigh Lane site and the Fourth Avenue site, the firm said in a report released on Thursday.

Edmund Tie & Co's GLS report ranks land parcels based on scores in four criteria: location; competition from existing and upcoming projects in the vicinity; established neighbourhoods; and upcoming areas under Urban Redevelopment Authority (URA) plans.

The Jiak Kim Street land parcel, which is on the Reserved List, stood out for being one of the last few sites that offer a residential development with a view of the Singapore River - considered a unique selling point.

The site is also in close proximity to Havelock MRT station as well as shopping and nightlife spots.

If launched, the 1.33 ha site is expected to fetch 10 to 15 bids in the range of S$1,100 to S$1,300 per sq ft per plot ratio (psf ppr).

Meanwhile, no new GLS site has been launched in the Toh Tuck Road land parcel vicinity since 1997.

A recent project launched was the Creek @ Bukit. The condominium project, which is expected to be completed in September this year, sold at S$1,230 to S$1,870 psf.

According to Edmund Tie & Co, the Toh Tuck Road 1.87 ha site is at the centre of growth clusters - a short drive away from the future second Central Business District (CBD) at Jurong East as well as the Clementi/ Buona Vista area that is teeming with startups and tech companies. The firm expects bids to range from S$700 to S$900 psf ppr, and the number of bids to hover from 10 to 15.

With its proximity to Kandang Kerbau Hospital, Tan Tock Seng Hospital and Farrer Park Hospital, the reserved land parcel at Owen Road will offer units to medical staff for rent, said Edmund Tie & Co. Units on the 1.38 ha site, which is a short distance away from Little India, are likely to attract young professionals due to the affordable food, transport amenities and culture of the area.

Owen Road will also appeal to upgraders or families living in the surrounding HDB estate, and fetch at least eight bids ranging from S$750 to S$950 psf ppr.

The Fourth Avenue site is attractive for being a rare site in a prime district, but lacks a river view and is hit by a high land price.

Woodleigh Lane's site is minutes away from Woodleigh MRT station and Stamford American International School, but the upcoming launch of the Serangoon site opposite it will add pressure on bids.