URA launches Jalan Tembusu web site for rent

An estimated 840 gadgets can also be made at the web site.

The City Redevelopment Authority (URA) has introduced the Jalan Tembusu web site on the market below the Executive Land Gross sales (GLS) programme.

Jalan Tembusu has a complete web site space of 20,572.1 sq. meters and a most gross ground space of 72,993 sq. meters, in step with URA’s record.

The land is zoned “residential” with a most development peak of 70 meters to 75 meters. It has a rent of 99 years.

An estimated 840 gadgets can also be made within the web site, URA mentioned.

ALSO READ: ‘Sturdy’ hiring marketplace anticipated in Q2

Sze Teck Lee, senior director of analysis at Huttons Asia, famous that the a success comfortable value is estimated to be between S$1,300 and S$1,400 in step with sq. foot (psf) 

“Jalan Tembusu web site sits in District 15, a well-liked space for lots of patrons. It’s not some distance from Tanjong Katong MRT station. Moreover the mission gives unblocked perspectives as properties within the neighborhood are predominantly landed and coffee upward thrust tendencies,” Lee famous in regards to the web site.

Lee additional expects the collection of bidders to between 3 to five for the reason that absolutely the quantum for the web site is greater than S$1b.

Christine Solar, Orange Tee & Tie senior vice chairman for analysis and analytics, mentioned that because of the dimensions of the web site builders would possibly decide to shape a consortium to proportion bidding prices. Solar estimates a bid value of S$1,300 to S$1,380 psf. 

The comfortable for Jalan Tembusu will shut at 12NN on 18 July 2023 at URA.

Supply By way of