SINGAPORE — Two residential sites in Champions Way in Woodlands and Lorong 1 Toa Payoh, and a short-term lease commercial site in Punggol Walk, were released for sale on Thursday (May 25) under the first-half 2023 Government Land Sales (GLS) Programme. Analysts see pent-up Housing Board upgrader demand for the two leasehold 99-year residential sites, which can yield a total...
SINGAPORE — Two residential sites in Champions Way in Woodlands and Lorong 1 Toa Payoh, and a short-term lease commercial site in Punggol Walk, were released for sale on Thursday under the first-half 2023 Government Land Sales Programme.
The Lorong 1 Toa Payoh site can yield 775 residential units. The mature estate site, which comes under the reserve list, will be triggered for sale only if a developer submits an acceptable offer in the tender. The last GLS site awarded in the area was the Lorong 6 Toa Payoh/Lorong 4 Toa Payoh plot . It was sold in June 2015 for $345.86 million .
Champions Way is the first GLS in Woodlands since 2011, noted Mr Justin Quek, deputy chief executive of OrangeTee & Tie. The previous GLS was for the Woodlands Avenue 2/Rosewood Drive site , which was sold for $151.5 million in June 2011, while the previous executive condominium plot in Woodlands was sold in 2015.
Analysts say the Champions Way site could fetch bids ranging from $920 to $1,012 psf ppr, which would translate to between $300 million and $330 million. This tender could attract five to eight bids. About 60 per cent of the gross floor area will be required for office use, and at least 650 sq m set aside for a childcare centre. The remaining space could be for retail use, she said.
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