PROJECT DETAILS
The Urban and Redevelopment Authority (URA) has sold a mixed development site in Tampines Road/ Upper Serangoon Road as part of Government Land Sales (GLS) URA. This land parcel is located in North- East Region of Singapore, bounded by Tampines Road, Upper Serangoon Road and Valley Road. New condo at Tampines Road. It is listed in the confirmed list of sites and is allocated to be developed into a mixed development. It has a site area of 108,685 square feet and is expected to house approximately 340 residential units.
Asset Legend won the top bid of S$276.8 million.
New land parcel is opposite of Suites @ Kovan, Lian Beng Building and also the row of shophouses where the famous Punggol Nasi Lemak is located. It is a 99 years leasehold development with a total plot area of approximately 1.1 hectare.
New Tampines Road condo is near to developments such as Kovan Melody, Kovan Residences, The Tembusu, Trilive, Bliss @ Kovan, Naung Residences, Kovan Regency and also the Midtown and Midtown Residences, an upcoming mixed development located in Hougang Central.
New and upcoming condo in Tampines Road is a short walk away from Kovan MRT Station which serving the North East Line. It is 1 MRT station away from Serangoon MRT Interchange which future residents can easily transit to the Circle Line. This allows future residents to easily commute to various parts of Singapore as it provides great connectivity. There are also many bus services available at Punggol Bus Interchange which is just 1 train station away. It is a 15 minutes of driving to the Central Business District (CBD) and City Centre. and 10 minutes drive to Orchard shopping belt. Drivers also access to various expressways such as Kallang Paya Lebar Expressway (KPE), Tampines Expressway (TPE) and also Central Expressway (CTE) to travel to parts of Singapore.
New Tampines Road Condo is a short walk to Kovan City, a neighbourhood centre mall, which hosts many retail shops and eating outlets providing a wide variety of goods and services for its future residents. Offices and commercial schools are also available here. Heartland Mall, a shopping mall provides additional retail shops, F&B outlets and a supermarket. Kovan City also hosts the Hougang Street 21 Block 209 Market & Food Centre which offer a wide range of fresh market produce and economical local food. Future residents of New Condo can also travel down to NEX mega shopping mall which just 1 train station away which offers extensive range of products and services. Other nearby shopping malls includes Hougang Mall, Hougang 1 and the upcoming Midtown and Midtown Residences. New Tampines Road Condo is also near to Hougang Avenue 1 Block 105 Market & Food Centre where there will be more choices for its future residents when it comes to market and local food stalls.
There are several schools nearby. Future residents of New Tampines Road Condo may choose Xinghua Primary School, Holy Innocents’ Primary School, Paya Lebar Methodist Girls’ School (Primary), Xinmin Primary School, Montfort Junior School, CHIJ (Our Lady of the Nativity), Rosyth School, Yio Chu Kang Primary School, Hougang Primary School, Zhonghua Primary School, Yuying Secondary School, Paya Lebar Methodist Girls’ School (Secondary), Xinmin Secondary School, Montfort Secondary School, Bowen Secondary School, Holy Innocents’ High School, Peicai Secondary School, Hougang Secondary School and also Serangoon Junior College.
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| Project | New Tampines Road Condo |
| Developer | Asset Legend |
| Location | Old Tampines Road/ Upper Serangoon Road |
| District | 19 |
| Tenure | 99 years leaseold |
| Site Area | 108,685 sqft |
| GFA: | 326,060 sqft |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | |
| Total Carpark | |
| Development | |
| Unit Type: | |
| Architect | |
| Eligibility | Local / PRs / Foreigners can buy |
LOCATION and AMENITIES
Amenities Near New Tampines Condo
| Category | Important Amenities New Condo | Approximate Distance |
| Train Stations | Kovan (NE13) | 0.4km |
| Bus Stop | Opp Glad Tidings Ch (Bus: 80, 81, 82, 101, 107, 107M, 112, 113, 115, 119, 136, 153) Glad Tidings Ch (Bus: 80, 81, 82, 101, 107, 107M, 112, 113, 115, 119, 136, 153) |
0.2km 0.2km |
| Supermarkets | Cold Storage (Heartland Mall) Fairprice (Hougang St 21) Prime (Hougang Ave 1) Giant (Hougang Green Shopping Mall) |
0.2km 0.5km 0.9km 2.0km |
| Shopping Malls | Heartland Mall Upper Serangoon Shopping Centre ICB Shopping Centre The Midtown (U/C) Hougang Mall Hougang 1 Kensington Square (U/C) NEX Shopping Mall |
0.2km 1.2km 1.3km 1.4km 1.5km 1.8km 1.8km 2.0km |
| Education Institutions | Preschool | |
| Catholic Kindergarten En-Naeem Mosque Kindergarten PCF Paya Lebar Blk 23 St. Paul’s Church Kindergarten JENIUS Kindergarten Living Sanctuary Kindergarten PCF Paya Lebar Blk 125 Bethesda (Serangoon) Sunbeam Kindergarten PCF Bedok Reservoir-Punggol Blk 508 PCF Ang Mo Kio-Hougang Blk 632 |
0.5km 0.6km 0.6km 0.6km 0.6km 0.8km 1.0km 1.1km 1.2km 1.2km |
|
| Primary | ||
| Xinghua Primary School Holy Innocents’ Primary School Paya Lebar Methodist Girls’ School (Primary) Xinmin Primary School Montfort Junior School CHIJ (Our Lady of the Nativity) Rosyth School Yio Chu Kang Primary School Hougang Primary School Zhonghua Primary School |
0.5km 0.9km 1.2km 1.2km 1.4km 1.8km 1.9km 1.9km 2.0km 2.0km |
|
| Secondary | ||
| Yuying Secondary School Paya Lebar Methodist Girls’ School (Secondary) Xinmin Secondary School Montfort Secondary School Bowen Secondary School Holy Innocents’ High School Peicai Secondary School Hougang Secondary School |
0.6km 1.2km 1.4km 1.4km 1.5km 1.5km 1.9km 1.9km |
|
| Junior College | ||
| Serangoon Junior College | 0.4km | |
| Tertiary/Postgraduate | ||
| Nanyang Polytechnic | 4.8km | |
| International | ||
| DPS International School | 0.8km | |
| Food Centre | Hougang Street 21 Block 209 Market & Food Centre Hougang Avenue 1 Block 105 Market & Food Centre |
0.3km 0.9km |
| Lifestyle | Kovan Sports Centre Hougang Avenue 1 Park Surin Avenue Neighbourhood Park Hougang Sports Hall Serangoon Stadium Serangoon Community Park |
0.5km 0.6km 0.7km 1.1km 1.5km 1.8km |
FACILITIES AND SITE PLAN
New Tampines Road Condo's Facilities and Site plan is seeking approval from relevant authorities. If you would like to be updated on first hand information or would like to know more about financing,
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UPPER SERANGOON MIXED-USE SITE DRAWS TOP BID OF S$276.8 MILLION
Singapore — Despite the slow property market, a mixed-use land parcel in Upper Serangoon Road has drawn a better-than-expected top bid of S$276.8 million in a tender contested by 11 firms and consortiums, attesting to the attractiveness of such sites.
The bid placed by Asset Legend at the close of tender yesterday for the 108,685 sq ft site was 15 per cent more than the second-highest offer by SL Capital Ventures at S$240 million and 60 per cent higher than the lowest bid by KBD Ventures at S$172.7 million, said a statement released by the Urban Redevelopment Authority (URA).
On a per square foot per plot ratio (psfppr) basis, the 11 bids ranged from S$529.70 psfppr to S$848.80 psfppr.
While the number of bids was in line with what property analysts had forecast, the top bid surpassed their expectations. Mr Eugene Lim, key executive officer of ERA, had projected a top bid of around S$750 psfppr.
The 99-year-lease site, located near Kovan MRT station, is for residential and first-storey commercial use. Launched under the Confirmed List of the Government Land Sales (GLS) by the URA, it has a maximum gross floor area of 326,060 sq ft and can yield an estimated 340 housing units.
Mr Chris Koh, director of Chris International, said the interest shown in the tender is a sign that developers are keen to bid for mixed-use sites.
“Developers have the confidence to bid for the site as it is a mixed development. For a site like this, the commercial units will typically attract buyers first and this will then have a spillover effect on buying interest for the residential units,” Mr Koh said.
Thus, bidders were expecting that the development could attract a wide range of buyers, he added.
Mr Lim said: “Asset Legend could be bullish about the site’s prospects because of its proximity to Kovan MRT Station, and its main-road frontage, which works well for the commercial units that have to be built on the first storey.”
The top few bids also indicated that there are developers who have enough financial reserves to selectively participate in tenders.
“There are developers who have accumulated a bit of wealth when the market was still buoyant. They are waiting for the right opportunities to place bids,” said Mr Koh.
The tender period for the site was extended by two weeks until yesterday to allow potential bidders to take into account new construction requirements.
Introduced by the Building and Construction Authority (BCA) on Nov 1to improve the industry’s capabilities and productivity, the requirements include higher minimum Buildable Design and Constructability standards, more use of prefabricated components and the adoption of productive technologies in GLS projects.
Mr Lim noted that the Upper Serangoon Road parcel is the first GLS site that has to meet the new requirements, which the winning bidder will have to consider when pricing the units.
“As this is a new move, the economies of scale have yet to be tested and the break-even price for this project could be higher as it is the first adopter of the new requirements,” he said.