HDB launches tender for commercial site in Sengkang

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A 99-year leasehold commercial site at the junction of Sengkang West Avenue and Fernvale Road has been launched for sale by the HDB.

Located within Sengkang Town, the site has a total area of 8,790.3 sq m with a maximum gross floor area (GFA) of 26,370.9 sq m. It presents an excellent opportunity for the developer to create a landmark commercial development catering to the lifestyles of Sengkang residents, as well as those living in the north-eastern regions, like Hougang, Punggol and Serangoon Central.

“With the Fernvale LRT Station at its doorstep, the land parcel is seamlessly linked to the Sengkang MRT / LRT Station and Sengkang Bus Interchange. Facilitating greater islandwide accessibility are the nearby expressways including Tampines Expressway (TPE) and Central Expressway (CTE),” said the HDB.

Alan Cheong, Head of Research at Savills, expects the site tender to draw healthy bids, as suburban malls remain in short-supply. He noted that buyers will likely comprise either unlisted property funds or developers aiming to sell completed projects back to real estate investment trusts (Reits).

The HDB said the tender for the site will close on 17 January 2012.

Meanwhile, a condominium site in Yishun has been awarded to T G Development Pte Ltd and Master Contract Services Pte Ltd, after they jointly submitted the highest bid of S$138.9 million.

Located at the corner of Yishun Avenue 1 and Miltonia Close, the site has a land area of 16,900 sq m and could yield up to 355 condo units. It has a maximum allowable GFA of 35,490 sq m and a leasehold period of 99 years.

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