The 99-year-leasehold site in Bukit Batok West Avenue 6 is expected to be a mixed residential and commercial site.
The first site put up for sale by the Urban Redevelopment Authority (URA) in the area in several years is likely to draw keen interest from property developers. The 14,696.7 square meters plot was launched for sale by public tender on Wednesday.
The plot could yield about 425 residential units and up to 6,000 sq m of gross floor area of commercial space, URA said in a statement.
The site is about 1km from Bukit Batok MRT station and is one of four confirmed list sites under the Government Land Sales programme for the first half of this year. Nearby amenities include Millennia Institute, Bukit Batok Polyclinic and West Mall.
Analysts estimate the site tender to attract up to eight or 10 bids reported The Straits Times. “The top winning bid could range between $570 and $620 psf per plot ratio… The developer could be selling the residential units from $1,150 to $1,200 psf onwards,” Cushman & Wakefield research director Christine Li told the paper.
Read The Straits Times for the full report.