Commonwealth Avenue New Land Sale
The Housing and Development Board (HDB) has sold a land parcel at Commonwealth Avenue, which was part of the Government Land Sales (GLS) programme for the first half of the year 2013. This land parcel is allotted for residential development, and the successful tenderer can develop it into condominiums or flats to provide for more residential spaces in the country.
Like most land parcels, this was allowed to be leased for a period of 99 years, with a permissible gross plot ratio of 4.9. The site, which was launched in December 18, 2012, closed its tender for the land parcel in February 5, 2013. The site was awarded in February 7 to Intrepid Investments Pte Ltd, Verwood Holdings Pte Ltd, and Hong Realty (Private) Limited, who submitted a price of $562.8 million. It bested two other bidders including Acresvale Investment Pte Ltd and FCL Topaz Pte Ltd, Far East Orchard Limited, Sekisui House Ltd., and China Construction Development Co Pte Ltd.
Queenstown S9a, as the land parcel is called has a land area of 1.21 hectares or 12,086.80 square meters and a permissible gross floor area of 59,225.32 square meters. It is located near the Queenstown MRT Station, making public transportation easy for all the residents. It is also near the Ayer Rajah Expressway, giving the residents more options on how to travel to and from various places.
The area of the Commonwealth Avenue land parcel is also ideal for just about any buyer because of its proximity to several educational institutions. This includes:
- Queenstown Good Shepherd Kindergarten
- Queenstown Primary School
- Rainbow Centre – Margaret Drive School
- Queenstown Secondary School
- Institute for Adult Learning
- Crescent Girls’ School
- New Town Primary School
- Management Development Institute of Singapore
- Global Indian International School
- Bukit Merah Secondary School
- New York University Tischasia School of the Arts
- Tanglin International Center
Aside from educational institutions, several recreational facilities are also surrounding the residential development, providing residents with several areas to be able to unwind and develop themselves. Among the recreational areas close to the land parcel at Commonwealth Avenue includes: Queenstown Stadium, Queenstown Swimming Complex, Multi purpose hall, Street soccer court, and Alexandra Hill East Neighborhood Park. The land parcel is also near several forested areas, giving the residents a warm breath of fresh air. Because of all these amenities, it would not be a surprise if people would instantly want to secure their own unit at the future