SINGAPORE – The maiden tender for a government land sales (GLS) site in the new Holland Plain precinct has fetched five bids.

A tie-up between Sim Lian Land and Sim Lian Development placed the top bid of nearly $368.37 million, which works out to about $1,432 per square foot per plot ratio (psf ppr) for the 99-year leasehold private residential site.

Wee Hur Development bid $301.39 million, or $1,171.70 psf ppr for the land parcel.

Kingsford Group bid $272.95 million.

The fourth-highest bid came from a consortium comprising ABR Holdings, Roxy-Pacific, Macly Capital and LWH Holdings. It bid $270.08 million.

Sustained Land placed the lowest bid of $236.62 million, or $919.89 psf ppr.

The Holland Link plot, with a site area of 183,729 sq ft, can be developed into a six-storey project with a maximum gross floor area (GFA) of 257,225 sq ft.

The Urban Redevelopment Authority (URA) has set a cap of 233 housing units for this site, to manage traffic in the area.

The proposed project on the site is to include an early childhood development centre – for infant and childcare services – with a GFA of at least 5,382 sq ft. This figure is to be computed as part of the project’s maximum GFA.

The URA has envisaged the Holland Plain precinct – within the Bukit Timah Planning Area – as a leafy neighbourhood with lushly planted streetscape.

The precinct is bounded by the Methodist Girls’ School and the Brizay Park Good Class Bungalow Area to the north, the Holland Green Linear Park and Greenleaf landed housing estate to the south, the Rail Corridor to the west, and low-rise, landed housing at Garlick Avenue to the east.

The Holland Link plot, the tender for which closed on July 29, will be served by a new MRT interchange station at King Albert Park between the existing Downtown Line (DTL) and the upcoming Cross Island Line (CRL). A new CRL station exit is planned within the north-west portion of the Holland Plain precinct.

The development on the Holland Link land parcel “will enjoy convenient access to the city centre and Singapore Botanic Gardens along the DTL and, when the CRL is operational, it will be well connected to Jurong Lake District and Clementi, as well as other parts of Singapore”, based on information about the site provided by the URA.

The plot next to the Holland Link site is available for application on the reserve list of the GLS programme. It can be developed into a maximum of 282 private housing units.

THE BUSINESS TIMES

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