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URA has released a site at Serangoon North Ave 1 under the reserve list of the second half 2016 Government Land Sales Programme for application from October 27.
The 185,022 sq ft 99-year leasehold site could yield a maximum of 505 residential units. It is located near Chomp Chomp Food Centre, Seragoon Country Club and Serangoon Garden Market.
Nicholas Mak, head of research and consultancy at SLP International Property Consultants, reckons that there is a good chance that this site could be triggered by a developer for sale by tender in the next 12 months.
SLP’s Mak expects the tender to attract between five and 10 bidders. The land price would range from $254 million to $287 million ($550 to $600 psf ppr), he estimates.