The 99-years leasehold residential land parcel at Stirling Road launched under government land sales has been awarded to Logan Property (Singapore) Company Pte Ltd and Nanshan Group Singapore Co. Pte. Ltd at a tendered price of $1,002,719,956.00 (in short, S$1 billion).
Site area of the land parcel is 21,109.5 SQM with a maximum gross floor area of 88,660 SQM. At this size, URA estimated that the land can provide up to 1,110 housing units.
With a bid of S$1 billion for 21,190 SQM of land, it translates to a price of S$1,050 per square per plot ratio and the estimated breakeven price will be around S$1,600 to S$1,700 PSF PPR.
In comparison, HY Realty’s bid for the land where Queens Peak is sitting on works out to be S$871.10 per square foot per plot ratio (PSF PPR) and the transacted prices are averaging at S$1,632 PSF, with the lowest PSF pricing transacted at S$1,406 PSF.
With a lower entry price compared to upcoming new launch at Stirling road, coupled with its more superior location (i.e. doorstep to MRT station), Queens Peak is unarguably a development you should not miss.
For viewing appointment or one-to-one presentation on Queens Peak, please give us a call at (65) 6100 1344.