DEVELOPMENT SITE NEXT TO CENTRAL NATURE RESERVE FOR PUBLIC TENDER

Singapore, 16 April 2018 – CBRE Pte. Ltd. (CBRE) is pleased to announce the launch of the Public Tender of Faber Garden, located at 2,4,6,8,10 Angklong Lane, off Upper Thomson Road, on 17 April 2018.

The sprawling 12.5 acres site, situated next to Singapore’s Central Nature Reserve, enjoys tranquil exclusivity yet is conveniently connected to the city centre via the MRT network, major roads and expressways. The upcoming Bright Hill MRT Station (TE7), slated for opening in 2021, is located right at the doorstep of the site.

The site area is approximately 544,738 sq ft. Based upon the Masterplan 2014 zoning, the use is “residential” with plot ratio 1.6 and a height control of 12 storeys. The maximum allowable gross floor area (GFA) is approximately 871,581 sq ft and 958,739 sq ft (including 10% bonus balconies).

Based on the “70 sqm” guideline, the site can accommodate more than 1,150 units. The development charge payable to intensify the gross floor area is approximately $52.8m. Including further development charge payable for the 10% bonus balconies GFA, the total DC payable is approximately $106.7m.

The location, off Upper Thomson Road, is characterized by affluent Good Class Bungalows (Windsor Park GCBA), landed housing and private condominiums. Singapore’s ‘oldest and grandest’ golf and country club in Singapore, The Singapore Island Country Club Island Location (SICC), is located across from the site. Upper Thomson Road is undisputedly the best district of Central Northern Singapore (District 20).

Overlooking the vast mature greenery of Lower Pierce Reservoir, Windsor Nature Park (TreeTop Walk) and the greens of the golf courses of SICC, the site is the perfect opportunity for a developer to capitalize on its proximity to nature and develop a new luxurious residential development for families, away from the hustle and bustle of the city.

One of the key attributes of the site is being next to the Central Nature Reserve. The popular Windsor Nature Park (TreeTop walk) and Lower Pierce Reservoir are within walking distance from the site.

Also available in the immediate vicinity is a wide array of F&B, lifestyle and entertainment amenities, i.e. Thomson Plaza, F&B offerings on Upper Thomson Road, Bishan Junction 8, amongst others. Several esteemed and popular local and international educational institutions are also in close proximity, i.e. Ai Tong School (within 1km), CHIJ St Nicholas Girls School, Catholic High School, Raffles Institution and Australian International School.

The reserve price of Faber Garden is $1.18b. Including the estimated development charge payble, the resultant land price works out to $1,414 psf ppr or $1,342 psf ppr if 10% balconies was included.

Owners representing more than 80% of the share value and strata area have signed the Collective Sale Agreement (CSA). Faber Garden currently has 236 units and is approximately 34 years old.

Galven Tan (陈威礽), Executive Director, Capital Markets, CBRE said, “In land scarce Singapore, large sites such as this is hardly available, or would otherwise be 99 year leasehold. Faber Garden’s attributes are exceptional – the plot is freehold; it is next to a nature reserve, and an MRT Station at its doorstep makes it a compelling development proposition.”

“Developers often look for opportunities to differentiate their product and create a landmark. We believe Faber Garden, with its immense potential that allows developers to capitalize of its location and attributes, is the site.” Galven added.

Recap on Unique Selling Points:
1. Only Freehold site in Upper Thomson with site area of 544,000 sq ft
2. Bright Hill MRT Station at door step
3. Tranquil exclusivity next to Central Nature Reserve
4. Large site allows for planning flexibility
5. 1km to Ai Tong School

CBRE is the exclusive and sole marketing agent for Faber Garden.

The Public Tender for Faber Garden will close at 3pm on 23 May 2018.

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