An executive condominium (EC) site at Canberra Link that could yield up to 385 housing units has been launched for sale via public tender, revealed the Housing and Development Board (HDB) on Thursday (16 May).
Spanning 16,690 sq m, the confirmed list site has a maximum gross floor area of 38,387 sq m and a maximum building height of 45 to 55 metres. It also comes with a lease period of 99 years.
Huttons Asia noted that the site shares similar attributes with an earlier launched EC site awarded in September 2018 such as proximity to Canberra MRT station.
Given that it is a low-density site, Huttons expect it to attract “a fair bit” of interest from developers.
“Developers will be keenly watching the level of interest for the first EC launch in 2019. This together with the earlier price paid for the neighbouring EC site will dictate the pricing for this site,” said Lee Sze Teck, head of research at Huttons Asia.
“We expect prices to be between $520 and $570 per sq ft per plot ratio for this site and number of bidders between five and eight.”
The tender for the Canberra Link site will close on 3 July.