Windy Heights is one of the largest freehold residential redevelopment sites in District 14. (Photo: Knight Frank)
The current en bloc fever shows no signs of abating with Windy Heights being the latest project to join the craze.
Located off Jalan Daud, the freehold residential estate comprises four residential blocks of 192 apartments, eight penthouses and two commercial units.
Marketing agent Knight Frank revealed that the development has a reserve price of $806.2 million, or $1,288 psf per plot ratio (psf ppr).
Inclusive of a 10 percent bonus balcony gross floor area (GFA), the land rate translates to $1,171 psf ppr, subject to the approval of relevant authorities.
No development charge is payable for the approximately 250,702 sq ft site, which is zoned residential under the 2014 Master Plan with a gross plot ratio (GPR) of 2.1.
As verified by the Urban Redevelopment Authority (URA), the site’s current GFA is 58,150.74 sq m, which translates to a GPR of 2.4967. With this, the site may be redeveloped into 581 new residential units with an average size of 100 sq m.
Situated along the Eastern Coastal Loop (Siglap Park Connector), the site is a 15-minute drive to Changi Airport and the Central Business District.
“Windy Heights is one of the largest freehold residential redevelopment sites in District 14. The new development built on site will enjoy unblocked views over low-rise landed houses and apartments in the vicinity.
“There also isn’t much impending supply in Kembangan and the Bedok area in Districts 14 and 16 from land sales and collective sales, hence new launches in the area are likely to be sought after in lieu of the low supply,” said Ian Loh, executive director and head of investment and capital markets at Knight Frank Singapore.
The tender for Windy Heights will close on 18 April.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com