GLS sites at Champions Way, Lorong 1 Toa Payoh and Punggol Walk released for sale

on EdgeProp.sg

URA has released three Government Land Sale (GLS) sites under the 1H2023 GLS Programme on May 25. Two 99-year leasehold residential sites located at Champions and Lorong 1 Toa Payoh, and a short-term lease commercial site at Punggol Walk.

The residential site at Champions Way is under the Confirmed List and has a site area of 14,433 sq m (155,351 sq ft) and a maximum gross floor area (GFA) of 30,309 sq m (326,243 sq ft). A minimum GFA of 500 sq m (5,382 sq ft) at the site is stipulated for a childcare centre. The tender for the site will close on Sept 12.

The site at Lorong 1 Toa Payoh is available for application under the Reserve List and has a site area measuring 15,743 sq m (169,456 sq ft) and has a maximum GFA of 66,121 sq m (711,721 sq ft).

The short-term lease commercial site at Punggol Walk has a site area spanning 10,011.5 sq m (107,763 sq ft) and has a lease period of 30 years, with a maximum GFA of 14,017 sq m (15,0878 sq ft). A minimum GFA of 8,400 sq m (90,417 sq ft) is allocated for office use, while at least 650 sq m (6,997 sq ft) is designated for a childcare centre.

This marks the first GLS launch in Woodlands (excluding executive condominiums) since 2011 when a plot at Woodlands Avenue 2 and Rosewood Drive sold for $367 psf per plot ratio (psf ppr) and developed into the 689-unit Parc Rosewood. The Champions Way site is surrounded by new and mature HDB blocks, and is also within walking distance of the Woodlands South MRT Station on the Thomson-East Coast Line.

URA noted that the release of sites on shorter lease allows land uses to be refreshed in shorter cycles to support businesses in adapting their operations more nimbly to changing economic trends and market demand.

The Myst CDL boasts a slew of luxurious features such as a 30m lap pool, sauna, kid’s pool, gymnasium, BBQ pavilion, and much more! The condominium is also equipped with a 24 hour security system, with CCTV cameras and card access entry and exit points.

According to OrangeTee & Tie’s Deputy CEO, Justin Quek, the site is accessible and well-connected to many parts of the island, and its proximity to the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) may also boost the future development’s appeal to tenants that are expatriates and employee pass holders from Malaysia.

The residential site at Lorong 1 Toa Payoh may likely be triggered for sale due to the dearth of new private residential projects in the area. PropNex’s Wong Siew Ying also believes the site could draw five to six bids potentially coming in at $950 to $1,000 psf ppr.

Meanwhile, Huttons Asia’s Lee Sze Teck projects that the top bid for the Lorong 1 Toa Payoh site could be more than $1,200 psf ppr, while Wong believes the site at Punggol Walk could garner interest despite the shorter tenure, given the area’s lack of commercial office space.