SLIM BARRACKS RISE PARCEL A

Slim Barracks Rise

(Parcel A)

Residential with Commercial at First Storey

Tender Closed : 28 Sep 2021

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+65 6100 8108
DISTRICT
D5 - CLEMENTI, PASIR PANJANG
UNITS
EST. 265
PROPERTY TYPE
Residential with Commercial at 1st Storey
TENURE
99 YEARS
LEASEHOLD

Slim Barracks Rise Parcel A

Date Tender Closed: 28 Sep 2021
No. of units: 265

SEE DETAILS OF PARCEL A

Slim Barracks Rise Parcel B

Date Tender Closed: 28 Sep 2021
No. of units: 140

SEE DETAILS OF PARCEL B

Slim Barracks Rise (Parcel A) 

Update as at 28 Sep 2021

Details of tenderers as follows: 

Slim Barracks Rise (Parcel A)

Sales Launch Date: 15 June 2021, Tuesday
Tender Submission Date : 28 September 2021, Tuesday

Site Area : 7,957.3 m²
Maximum Gross Floor Area : 23,872 m²

 

Location: Slim Barracks Rise (Parcel A)
Site Area: 7,957.3 sqm

Lease Period: 99 years
Land Use Zoning: Residential with Commercial at 1st storey
Maximum Gross Floor Area: 23,872 sqm
Maximum Building Height: 
Height control for the podium: 18m SHD
Overall building height control: 66m - 112m SHD

Project Completion Period: 60 months

See location on URA Maps

About Slim Barracks Rise Parcel A

Slim Barracks Rise Parcel A

Located right beside the current NTU Alumni Club, this land plot is slated for launch in June 2021.

Excellent location 

The land parcel is located within the one-north precinct, master planned by JTC Corporation to be the icon of Singapore’s knowledge economy. The estate focuses on knowledge-intensive activities in sectors such as biomedical, info-communications and media industries.

Good accessibility

The land parcel is within close proximity to one-north MRT Station and Buona Vista MRT Interchange Station, which provide easy connections to the National University of Singapore, as well as to various parts of Singapore including Jurong Lake District, Harbour Front, the Central Business District, Changi Airport and other key commercial nodes.

Proximity to amenities, park and educational institutions

Located next to one-north Park, future residents can enjoy direct access to recreation choices provided at the park. The site is also well served by amenities, being a short bus ride to the retail options at the Star Vista.

Educational institutions and business schools such as Anglo-Chinese Junior College and Anglo-Chinese School (Independent), Fairfield Methodist School (Secondary), Fairfield Methodist School (Primary), INSEAD and Essec Business School are also located nearby.

The Straits Times
28 Sep 2021

SINGAPORE (THE BUSINESS TIMES) - Two residential-cum-commercial sites at Slim Barracks Rise in Buona Vista attracted 10 bids each, said the Urban Redevelopment Authority (URA) after the tenders closed on Tuesday.

Both are 99-year leasehold sites. Land parcel A, which spans 7,957 square metres (sq m) or 85,648.4 square feet (sq ft) fetched a top bid of $320.1 million or about $1,245.7 per square foot per plot ratio (psf ppr), exceeding the forecasts of most property consultants.

The top bid came from EL Development. It was 1.27 per cent higher than the second highest bid of S$316.1 million or about $1,230.2 psf ppr by Gao Xiuhua, one of the owners of Kingsford Development. In 2017, the property developer bought the Normanton Park site en bloc for $830.1 million.

Meanwhile, the 5,936.6 sq m or 63,901 sq ft land parcel B, fetched a top bid of $162.4 million or $1,210.1 psf ppr from Gao Xiuhua.

The two sites were under the confirmed list of the first half 2021 government land sales (GLS) programme. According to the URA, the properties are part of JTC Corporation's continued efforts to inject more residential spaces in the one-north estate.

At their launch on June 15, analysts predicted that the land parcels would attract a high number of bids due to their relatively small sizes compared to other GLS sites.

The pair also outperformed a residential site at Slim Barracks Rise launched by GLS in 2019, which drew bids and top a price $1,001 psf ppr, according to Ong Teck Hui, senior director of research and consultancy at JLL.

The site was later developed into one-north Eden, whose units command a median transacted price of about $2,000 per square foot, noted ERA's head of the research and consultancy department Nicholas Mak in June.

The large number of bids and optimistic bid prices for both sites indicate bullish sentiments for residential developments in the one-north precinct, said Mr Lam Chern Woon, head of research & consulting at Edmund Tie.

Ms Tricia Song, head of research for Southeast Asia at CBRE said the Slim Barracks Rise projects could sell for above $2,100 psf when launched.

 

Reference: Two land parcels at one-north's Slim Barracks Rise fetch 10 bids each, The Straits Times, 28 Sep 2021

 

The Business Times
28 Sep 2021

THE Urban Redevelopment Authority (URA) has closed the tender for two residential with commercial at first storey land sites at Slim Barracks Rise on Tuesday.

Land parcel A, which spans 7,957 square metres (sq m) or 85,648.4 square feet (sq ft) fetched a top bid of S$320.1 million or about S$1245.7 per square foot per plot ratio (psf ppr), exceeding the forecasts of most property consultants.

The top bid came from EL Development. It was 1.27 per cent higher than the second highest bid of S$316.1 million or about S$1,230.2 psf ppr by Gao Xiuhua, one of the owners of Kingsford Development. In 2017, the property developer bought the Normanton Park site en bloc for S$830.1 million.

Meanwhile, the 5,936.6 sq m or 63,901 sq ft land parcel B, fetched a top bid of S$162.4 million or S$1,210.1 psf ppr from Gao Xiuhua.

Ong Teck Hui, senior director of research and consultancy at JLL, noted that the bids were competitive. He said: "Developers' hunger for sites is also reflected by several of them bidding for both sites, to increase the chances of success."

Mr Ong added that developers were likely to be encouraged by the success of One-North Eden in April, which saw 141 of the total 165 units sold at a median price of S$2,009 psf within its launch month.

Meanwhile, Tricia Song, head of research (South-east Asia) at CBRE said: "The sites are attractive due to their relatively palatable sizes, the growing catchment at the thriving one-north R&D business hub, and limited new housing supply in the vicinity."

"We expect the Slim Barracks Rise projects could sell for above S$2,100psf when launched," she said.

The two 99-year leasehold sites were under the confirmed list of the first half 2021 government land sales (GLS) programme. According to the URA, the properties are part of JTC Corporation's continued efforts to inject more residential spaces in the one-north estate.

At their launch on June 15, analysts predicted that the land parcels would attract a high number of bids due to their relatively small sizes compared to other GLS sites.

Some analysts also predicted parcel A to attract more bidders than parcel B, because of the former’s closer proximity to Buona Vista MRT Station. However the sites both attracted 10 bids each.

The pair also outperformed a residential site at Slim Barracks Rise which was later developed into One-North Eden. Launched under the GLS programme in 2019, the property drew nine bids and top a price $1,001 psf ppr.

 “The enthusiastic bidding in today’s tender is also due to an upbeat market with rising prices while declining unsold inventory is prompting developers to replenish their land banks," Mr Ong said.

 

Reference: Two sites at one-north's Slim Barracks Rise beat forecasts with 10 bids each, The Business Times, 28 Sep 2021

 

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