How Champions Way and Lorong 1 Toa Payoh GLS sites will attract buyers
Property analysts said sales will be driven by pent-up demand for new homes.
The Urban Redevelopment Authority recently launched the GLS sites at Champions Way and Lorong 1 Toa Payoh, which could drive a lot of sales.
According to Huttons, it has been more than ten years since a GLS site was sold in Woodlands, with Parc Rosewood being the last project launch in 2012.
This site will woo buyers due to its proximity to Woodlands South MRT station, which is only a five-minute walk.
The harmonisation of GFA will also have an effect on land bids, said Huttons.
Huttons foresees more than three bidders and a top bid of more than $650 per square foot and per plot ratio.
The Lorong 1 Toa Payoh GLS site on the reserve list stands a high chance of being triggered for sale. It sits in the mature estate of Toa Payoh.
With five-room flats at The Peak @ Toa Payoh exceeding $1m and quite a number of recently MOP-ed flats exceeding $800,000, there is a sizeable pool of potential HDB upgraders.
PropNex Realty, meanwhile, said the 1.44-hectare Champions Way site in Woodlands can “potentially yield 350 new residential units, which is a very manageable project size in an area that has not seen fresh private residential supply for some time.”
The site is a convenient location for families and children going to school as it is near several schools and the upcoming Woodlands Health Campus, said Huttons.
“The schools nearby include Innova Primary, Woodgrove Primary, Si Ling Primary, Christ Church Secondary, Woodgrove Secondary, and the Singapore Sports School,” it added.
Commercial amenities are also a stone’s throw from the site, at Vista Point, and Causeway Point. It will also benefit from the ongoing development of the Woodlands Regional Centre, which is set to be the largest economic hub in Northern Singapore.
For Huttons, it sees five to six bids with the top bid potentially coming in at $309.9m to $326.2m ($950 to $1,000 psf ppr) based on a maximum GFA of 30,309 sq m.