The freehold residential site near Bukit Batok Nature Park is available for sale via a public tender with a guide price of US $42 million. There is a single-story car workshop which is designed with a 3-story annex building at this site. The building is currently provided on lease to Autobacs Singapore which is a famous automobile service and retail company from Japan.
Experts reveal that the parcel is held by one private investment corporation with owners specializing in retail and auto leasing services. Note that a 37575 sq ft site is recently zoned for the residential purpose at 30 Bukit Batok East Avenue 6 Site. This announcement was made as per the 2019 Master Plan with a permitted plot ratio of 1.4. Furthermore, the maximum allowed gross floor area inclusive of the bonus balcony at this site is 56,287 sq ft.
The guide price works well with the land rate of $1,127 per sq ft per plot ratio. This price range is inclusive of the bonus balcony as mentioned and development charges are payable. As per the approval from the respective authorities, the site at Beauty World MRT Stations and Bukit Batok can result in a total of 57 new units for residential needs.
This location is also closely linked to the Rail Mall as well as the mixed-use development building with an integrated transport hub available at Upper Bukit Timah Road. The professionals report great interest in developers in this area due to the limited private residential land supply in the Bukit Batok area.
Reports reveal that the number of new units and price quantum at this site can be easily developed within a sweet spot. Other than this, the single-owner sale site has more certainty about timeline and transaction. Therefore, the upcoming investors may find this site more useful for their dream home purchase.
The Managing director of SRI Capital Market, Mr. Low Choon Sin, recently said that the developers are allowed to develop a boutique project at a wide and prominent frontage of around 120m. Moreover, the Park Natura Condominium site is the only residential development in the area close to Bukit Batok East Avenue 6 Site and that was developed almost 10 years. This is the main reason why this newly proposed site is in high demand now. The shortage of residential projects in the region may also lead to the fast sale of a limited number of units available on the list. Note that the public tender for this site will close by 3:30 pm on September 21st. Therefore, you should make up your mind as soon as possible to invest in this property to make great returns in near future.
Find out more from the webpage below,
https://www.straitstimes.com/business/property/autobacs-site-in-bukit-batok-for-residential-use-up-for-sale-at-42-million
