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Thread: Residential site at Bartley Road put on Reserve List

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    Default Residential site at Bartley Road put on Reserve List

    http://www.businesstimes.com.sg/sub/...61819,00.html?

    Published December 1, 2009

    Residential site at Bartley Road put on Reserve List

    By UMA SHANKARI


    THE Urban Redevelopment Authority (URA) yesterday said that a residential site along Bartley Road is now open for applications from interested developers.

    The 99-year leasehold plot is located within an established residential estate next to the Bartley MRT.

    It has a site area of about 2.21 ha and can generate a maximum gross floor area of 61,865 square metres.

    The site is being offered under the Government's Reserve List system. Sites on the Reserve List are only put up for tender if a developer indicates a minimum bid price in an application, and that bid price is deemed to be acceptable.

    The land parcel, which is located between Bartley Road and Lorong How Sun, was first unveiled during the Government land sales programme for the second half of this year.

    It was officially put on the Reserve List yesterday.

    Analysts said that the site could be triggered soon as interest in it is likely to be high.

    Estimates for the eventual top bid range from $450-$550 per square foot per plot ratio (psf ppr).

    'The site should be well received because it is attractive and there is lots of local and foreign interest in State tenders,' said Donald Han, the managing director of Cushman & Wakefield. He expects the top bid for the site, once it is triggered, to be between $450 and $520 psf ppr.

    Ngee Ann Polytechnic real estate lecturer Nicholas Mak is more bullish - he expects the winning bid to come in between $500 and $550 psf ppr.

    The analysts also pointed out that increased interest from foreign developers in state land tenders could push up the price of the site.

    In November, the top bid for a 99-year condo site on Upper Thomson Road came from Hong Kong tycoon Li Ka-shing's Cheung Kong Holdings. Cheung Kong unit Treasure Well Investments offered $251.3 million or about $533 psf ppr - the highest seen for a private housing site at a state land tender this year.

    The company's top bid was 21.5 per cent above the next highest offer, which was made by Singapore's Far East Organization.

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    The Bartley Road land parcel and a Bodhi tree
    H88
    Tuesday, 1 December 2009, 12:08

    URA has put a site at Bartley Road up on the reserve list and its now open to application. Located right next to Bartley MRT, the 99-year leasehold land parcel it looks to be a location with great potential.

    Looking at the site plan, we noticed something interesting - a tree that is to be "retained and protected". After some Googling intensive investigative work, it turns out that the piece of land has a bit of history behind it.

    But before we begin, some 'boring' details first. The 99-year leasehold land parcel has a permissible gross floor area of 61,865 sqm or 665,909 sqft. Analysts say bids of $450-$550 psf ppr are quite likely. Some siteplans below:


    It is right next to Bartley MRT and for animal lovers, SPCA is right opposite. Site plan: URA


    The location of the tree (shown in the dotted circle). Site plan: URA

    Here's the interesting stuff, that tree to be conserved is a Bodhi tree, which is considered by Buddhists to be sacred. The tree was part of the Jin Long Si Temple, a unique 'three-religion' (Buddhism, Confucianism and Taoism) temple, which had to make way when the Government issued a land acquisition order in 2003 as part of a redevelopment plan for the Circle Line. There was a bit of a 'ruckus' when the news broke, but eventually the 70-year old temple had to go.


    The entrance to the temple.

    The 120-year old Bodhi tree stayed on however, as part of Singapore's 'Heritage Trees', which means that it cannot be cut down.
    That tree would definitely cause a bit of a headache to any developer who wins the site. Architects planning the site will do well to take into account the Bodhi tree's stature and history. Extra care will be needed during construction too.


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    Quote Originally Posted by Reporter

    The Bartley Road land parcel and a Bodhi tree
    H88
    Tuesday, 1 December 2009, 12:08

    URA has put a site at Bartley Road up on the reserve list and its now open to application. Located right next to Bartley MRT, the 99-year leasehold land parcel it looks to be a location with great potential.

    Looking at the site plan, we noticed something interesting - a tree that is to be "retained and protected". After some Googling intensive investigative work, it turns out that the piece of land has a bit of history behind it.

    But before we begin, some 'boring' details first. The 99-year leasehold land parcel has a permissible gross floor area of 61,865 sqm or 665,909 sqft. Analysts say bids of $450-$550 psf ppr are quite likely. Some siteplans below:


    It is right next to Bartley MRT and for animal lovers, SPCA is right opposite. Site plan: URA


    The location of the tree (shown in the dotted circle). Site plan: URA

    Here's the interesting stuff, that tree to be conserved is a Bodhi tree, which is considered by Buddhists to be sacred. The tree was part of the Jin Long Si Temple, a unique 'three-religion' (Buddhism, Confucianism and Taoism) temple, which had to make way when the Government issued a land acquisition order in 2003 as part of a redevelopment plan for the Circle Line. There was a bit of a 'ruckus' when the news broke, but eventually the 70-year old temple had to go.


    The entrance to the temple.

    The 120-year old Bodhi tree stayed on however, as part of Singapore's 'Heritage Trees', which means that it cannot be cut down.
    That tree would definitely cause a bit of a headache to any developer who wins the site. Architects planning the site will do well to take into account the Bodhi tree's stature and history. Extra care will be needed during construction too.




    any idea what happened to Chong Hwa Girls school ?

    i remember it was across the road from Bartley sec sch .. next to the proposed site ..

    from that map, looks like the school is no longer there

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