URA launches four sites for sale, including Holland Road parcel
The Urban Redevelopment Authority (URA) on Thursday (Nov 30) released four sites for sale — including a plum land parcel at Holland Road — which could potentially yield about 1,720 homes. Photo: URA
SINGAPORE — The Urban Redevelopment Authority (URA) on Thursday (Nov 30) released four sites for sale — including a plum land parcel at Holland Road — which could potentially yield about 1,720 homes.
The sites at Holland Road and Handy Road were launched for sale under the Confirmed List, while the sites at Mattar Road and Canberra Drive were made available for application under the Reserve List.
The sites were released under the Government Land Sales (GLS) Programme for the second half of this year.
In a press release, the URA said the Holland Road land parcel — zoned for a mixed-use and pedestrian-oriented development — will add vibrancy to Holland Village, which is "one of Singapore's endearing Identity Nodes and a distinctive lifestyle destination". It will be adopting a Concept and Price Revenue tender for this plot to shortlist compelling development concepts which are "attractive and will complement the adjacent low rise and street-oriented character of Holland Village".
The tender will close at noon on March 20.
URA added: "The future development is envisioned to build on and reinforce the continued success of Holland Village, through enhancing the area's buzz with more activity generating uses such as retail and dining options and providing more residences in the heart of Holland Village."
The tender for the residential site at Handy Road will close at noon on Jan 30, together with another residential site at Chong Kuo Road and the Executive Condominium site at Sumang Walk.
Ms Christine Li, director of research for Cushman & Wakefield, said the Handy Road site is "highly desirable" due to its close proximity to Dhoby Ghaut MRT station and nearby commercial amenities. She expects the site - which could yield an estimated 130 units - to attract 12 to 15 bidders and fetch about S$1,200 to S$1,300 per square foot per plot ratio (psf ppr).
On the Holland Road parcel, Ms Li said she expects eight to 12 bids. From medical suites and serviced apartments to residential units, there are many possible concepts that could be implemented, she said. "In the past, it was not uncommon to submit two different concepts in order to increase the chance of being shortlisted... we could see some keen interest among large-scale developers," Ms Li said.
Mr Colin Tan, director of research and consultancy at Suntec Real Estate Consultants, singled out the Holland Road site as the "most interesting and possibly the most challenging" for developers.
"If executed well, I suppose it can be another Clarke Quay in the making (except that it is in the suburbs) which can possibly attract both locals, expatriates and foreign visitors," said Mr Tan. "If it succeeds, I can forsee a traffic problem even with the Circle Line there, if it doesn't, there will be probably be a glut of retail space. It is envisioned to be a landmark development so design-wise it has to blend in with existing surroundings and yet stand out."
