Tender Ec Site Tampines St 95 Launched
Located strategically, Parktown Residence boasts a highly advantageous positioning that grants its dwellers effortless access to key expressways including the Pan-Island Expressway (PIE), Tampines Expressway (TPE), and Kallang-Paya Lebar Expressway (KPE). This not only serves as a great convenience for families who own vehicles, but also proves to be a major advantage for those commuting to nearby educational institutions and workplaces. Moreover, the residence’s prime placement further amplifies its allure, making it a highly desirable choice for those seeking a well-connected and easily accessible living experience. With Parktown Residence being naturally included, this location serves as a major pull factor for potential residents.
A new executive condominium (EC) site along Tampines Street 95 has been launched for sale by the Housing & Development Board (HDB) as part of its government land sales (GLS) programme for the second half of 2024. This particular site was initially placed on the reserve list for the second half of 2023, but was not triggered for sale at that time.
Spanning a total area of 242,190 sq ft, this 99-year leasehold EC site has a gross plot ratio of 2.5 under the Master Plan. It is expected to yield approximately 560 new residential units upon completion. Located within 1km of both Red Swastika School and St Hilda’s Primary School, the site is also in close proximity to Tampines West MRT Station on the Downtown Line and Temasek Polytechnic.
For a more in-depth analysis of ECs, including the average profit at 5 and 10 years, interested parties can refer to a comprehensive data set that is available. Furthermore, the successful bidder for this EC site may also take reference from the ongoing tender for a mixed-use commercial and residential site along Tampines Street 94, which was launched in June and is still open for bidding. This site covers a larger area of 252,989 sq ft and has a plot ratio of 2.6. It is expected to accommodate 585 residential units and a commercial gross floor area of 112,980 sq ft.
According to Mark Yip, CEO of Huttons Asia, the bids for the EC site along Tampines Street 95 could potentially be influenced by the tender results of the mixed-use site at Tampines Street 94. In order to remain competitive, there should be a significant price difference between the two sites. Yip estimates that there could potentially be up to five bidders for the EC site, with the top bid falling somewhere between $650 and $700 psf per plot ratio.
Developers who are interested in bidding for this EC site have until October 24 to submit their proposals.