URA tenders Tan Quee Lan Street site; postpones one-north Gateway site launch to June

The location plan for the land parcel at Tan Quee Lan Street.
The location plan for the land parcel at Tan Quee Lan Street.PHOTO: URA

SINGAPORE - The Urban Redevelopment Authority (URA) has launched the tender of a site on Tan Quee Lan Street under the Confirmed List of the first half 2019 Government Land Sales (GLS) programme.

The 99-year leasehold site sits on a site area of 11,530.9 square metres and has a maximum gross floor area of 48,430 sq m. It can potentially yield up to 580 residential units. The site has a maximum building height of 30 storeys for a high rise zone and six storeys for a low rise zone.

Meanwhile, the tender for a residential site at one-north Gateway under the Confirmed List, which was originally scheduled for this month, will be postponed to June "to facilitate a review of planning parameters and tender conditions for the site," URA said on Friday (March 29).

The tender for the Tan Quee Lan Street site will close at 12 noon on Sept 5. Its closing will be batched with another site at Bernam Street which is scheduled for sale in May under the first half 2019 GLS programme, said URA.

The 99-year leasehold site sits on a site area of 11,530.9 square metres and has a maximum gross floor area of 48,430 sq m. It can potentially yield up to 580 residential units. The site has a maximum building height of 30 storeys for a high rise zone and six storeys for a low rise zone.

Ms Tay Huey Ying,  JLL's Singapore head of research and consultancy, expects the Tan Quee Lan Street site to be the most attractive in the Confirmed List as it is located next to Bugis MRT station "right in the heart of Bugis where the Government's plan for its rejuvenation is fast bearing fruit".

She added: "It will attract developers keen to ride on the area’s rapid transformation into a vibrant mixed-use locale and an extension to the Central Business District."

Mr Nicholas Mak, executive director of ZACD Group, expects between eight and 12 bids for the tender as it is one of the rare GLS sites in Bugis planned for residential use.

However, he added that the proximity to the MRT station may result in higher construction costs, which developers have to consider.

Additional reporting by Derek Wong