On Aug 29 URA has launched a residential site at Jalan Bunga Rampai, off Bartley Road, for sale by public tender. It is under the Confirmed List of the 2H2019 GLS Programme. The 99-year leasehold site has a site area of 50,231 sqft and a permissible GFA of 105,486 sqft. The Bartley Road/Jalan Bunga Rampai site can potentially yield about 115 residential units of about 915 sqft each, which makes it the smallest residential site on the 2H2019 GLS programme, notes Tricia Song, head of research for Singapore, Colliers Intl. The plot is trapezoid-shaped, and is next to a small park and the Bartley Viaduct. Song expects the top bid for this Bartley Road/Jalan Bunga Rampai site to be $900 to $950 psf ppr or $95 million to $100 million, with a potential ASP of $1,550 psf. “Taking into consideration the response to suburban sites post-measures and the palatable quantum of the site, we expect it to attract five to eight bidders,” says Song. The tender for this site will close on Jan 9, 2020.... Continue Reading