, and Gem Residences on Edgeprop.sg

On May 25, the Urban Redevelopment Authority (URA) released three sites for sale under the 1H2023 Government Land Sale (GLS) Programme. The two residential sites are Champions Way and Lorong 1 Toa Payoh, and the short-term lease commercial site is located at Punggol Walk.

The Champions Way residential site is on the Confirmed List and can potentially yield 350 units with a site area of 14,433 sq m (155,351 sq ft) and a maximum GFA of 30,309 sq m (326,243 sq ft). It has a minimum GFA of 500 sq m (5,382 sq ft) allocated for a childcare centre. The tender will close on Sept 12.

The Lorong 1 Toa Payoh site is available under the Reserve List and can potentially yield 775 units. The site has a total area of 15,743 sq m (169,456 sq ft) and a maximum GFA of 66,121 sq m (711,721 sq ft).

The short-term lease Punggol Walk site has a lease period of 30 years and a maximum GFA of 14,017 sq m (15,0878 sq ft). It has a minimum GFA of 8,400 sq m (90,417 sq ft) for office use, and a minimum of 650 sq m (6,997 sq ft) for a childcare centre.

URA stated in a press release this site is part of the government’s efforts to support decentralisation and cater to demand for workspaces near homes. As such, the site offers an opportunity for businesses to nimbly adapt their operations to changing economic trends and market demand.

Champions Way is the first GLS residential launch since 2011, when the 689-unit Parc Rosewood was developed. This is a positive sign for potential demand in the area, as HDB resale flat transactions in Woodlands saw a 14.2% y-o-y increase last year. The site is also conveniently located near Woodlands South MRT Station on the Thomson-East Coast Line. With the upcoming Johor Bahru-Singapore Rapid Transit System (RTS), the potential development may attract expatriates and employee pass holders from Malaysia.

In terms of schools, Champions Way is within 1 km of Innova Primary School, Woodgrove Primary School, Si Ling Primary School, and Woodlands Primary School. It is also close to secondary schools including Christ Church Secondary School, and Woodgrove Secondary School, and the Singapore Sports School.

Experts predict the site to garner a good level of interest from developers and an anticipated bid price of $950 to $1,050 psf ppr.

For the Lorong 1 Toa Payoh site, experts expect it may be triggered for sale due to the area’s lack of new private residential projects. There is pent-up demand from homebuyers, including HDB upgraders, and if sold, the top bid may be more than $1,200 psf ppr.

The Punggol Walk commercial site could also attract interest despite the shorter tenure due to the lack of commercial office space in the area. It is thought the potential development could support the Punggol Digital District and attract occupiers who want to be located in Punggol.

Buyers looking for Altura EC Bukit Batok will be pleased to know that the condo is located in a mature neighbourhood, with plenty of amenities such as popular eateries and shopping malls nearby. The West Avenue 8 EC is also easily accessible, with several MRT lines located within a 10-minute drive away. Residents of the Altura EC will also be able to enjoy an array of recreational activities and entertainment within easy reach.

Check out the latest listings near Champions Way, Lorong 1 Toa Payoh, Punggol Walk, Parc Rosewood, Woodlands South MRT Station, Innova Primary School, Woodgrove Primary School, Si Ling Primary School, Woodlands Primary School, Christ Church Secondary School, Woodgrove Secondary School, Singapore Sports School, and Gem Residences on Edgeprop.sg.

URA has released three Government Land Sale (GLS) sites under the 1H2023 GLS Programme. A residential site at Champions Way is on the Confirmed List and can potentially yield 350 units, while a short-term lease commercial site at Punggol Walk offers a lease period of 30 years and a maximum GFA of 14,017 sq m (15,0878 sq ft). The Lorong 1 Toa Payoh site is on the Reserve List and can potentially yield 775 units with a maximum GFA of 66,121 sq m (711,721 sq ft).

Eugene Lim, key executive officer and head of research and market intelligence at ERA Realty Network, believes the Champions Way launch is a positive demand driver due to the concentration of HDB blocks in the area. This could lead to high upgraders’ demand, while its proximity to the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) may boost the future development’s appeal to tenants from Malaysia.

Justin Quek, deputy CEO of OrangeTee & Tie, predicts between five to eight bidders for the site and a potential bid price range between $950 to $1,050 psf ppr.

Wong Siew Ying, head of research and content at PropNex Realty, believes the Lorong 1 Toa Payoh residential site could be triggered for sale due to pent-up demand. She anticipates the top bid could be more than $1,200 psf ppr. Similarly, the Punggol Walk commercial site could also be successful in attracting occupiers due to its potential development and support of the Punggol Digital District.

The last GLS site awarded in the area was the Lorong 6 Toa Payoh/Lorong 4 Toa Payoh plot (now Gem Residences). Sold in June 2015, it fetched a top land price of $345.86 million ($755 psf ppr).

Overall, all three sites offer great potential, and URA’s efforts to support decentralisation and cater to demand for workspaces near homes may be fruitful.