A freehold residential site off Hillview Avenue is up for sale by tender, marketing agent DTZ said.
The vacant site at 1 Jalan Remaja has an area of around 43,557 sq ft and a gross plot ratio of 1.92, including an additional plot ratio of 0.3.
The land parcel could be developed into a 10-storey condominium of about 110 units. According to DTZ, an estimated $18.2 million development charge is payable for the site.
Located on elevated ground, it offers unobstructed views of the surrounding landed housing area and nearby nature parks such as Little Guilin and Bukit Timah Nature Reserve.
Amenities like Bukit Timah Shopping Centre and Beauty World Plaza serve the area’s residents, while major roads and expressways in the vicinity provide easy accessibility.
The site will also be served by three MRT stations – Bukit Batok, Bukit Gombak and the upcoming Hillview MRT station on the Downtown Line.
Swee Shou Fern, Director of DTZ’s Investment Advisory Services, said: “The Hillview area has matured into a popular and established residential enclave. The appeal of the property lies in its proximity to the lush greenery of nearby nature reserves as well as the MRT accessibility when the Downtown Line starts to serve the area in 2015.”
The tender for the property will close on 21 May.
Photo by DTZ
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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