Choice Location Within Established Residential Estate
The land parcel is located within an established private residential estate and near Tanah Merah MRT Station. Many condominium developments such as Stratford Court, East Meadows, Casa Merah and Optima@Tanah Merah are located in the vicinity.
The site is well connected to major arterial roads and expressways such as East Coast Parkway (ECP) and Pan Island Expressway (PIE). Residents will also enjoy access to convenient public transportation to the rest of Singapore via Tanah Merah MRT Station.
Proximity To Amenities
Residents will enjoy a wide range of shopping, dining and entertainment options at nearby Changi City Point, Bedok and Simei Town Centres.
Outdoor recreation facilities are also available at nearby Bedok Reservoir Park, East Coast Park, Laguna National Golf and Country Club.
With many reputable schools nearby, such as Anglican High School and Temasek Junior College, the development will be an ideal home for families with school-going children.
Situated close to Changi Business Park and Singapore’s fourth university – Singapore University of Technology and Design.
|Location:||New Upper Changi Road / Bedok South Avenue 3 (Parcel B)|
|Site Area:||24,394.0 m2|
|Lease Period:||99 years|
|Permissible Gross Floor Area:||51,228 m2|
|Estimated No Of Residential Units:||720|
A CHIP Eng Seng unit has put in the highest bid for a residential site at New Upper Changi Road/Bedok South Avenue 3 (Parcel B).
The site was put up for sale by the Urban Redevelopment Authority last month.
Chip Eng Seng’s unit, called CEL Residential Development, bid S$419.38 million or S$760.56 per square foot per plot ratio (psf ppr).
It bid seven others to the top spot. First runner-up Allgreen Properties bid S$415.89 million (S$754.23 psf ppr), followed by China Construction (South Pacific) Development which bid S$395.92 million (S$718.01 psf ppr).
The site was offered for sale on a 99-year lease term. It has a land area of 24,394 sqm and an allowable gross plot ratio of 2.1 and a maximum gross floor area of 51,228 sq m,
In a statement filed to the Singapore Exchange on Tuesday, Chip Eng Seng said that 500 sq m of the gross floor area will be used for child care centre.
The proposed development, with full condominium facilities, will comprise about 720 residential units. It will be financed by internal fund and bank borrowings and is not expected to impact the group’s net tangible assets and earnings per share for the current financial year ending Dec 31, 2016, it said.
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