Confident interest estimated for Bukit Batok web page

Analysts expect keen level of competition for a put together residential and commercial web page in Bukit Batok — the primary site created for sale in the place in several years.

The 99-year-leasehold site on Bukit Batok West Ave 6 premiered for sale by means of public put forward yesterday by Urban Redevelopment Authority (URA).

The 18, 696. 7 sq m plot could yield about 425 home units or more to 6, 000 sq m of major floor area of commercial space, URA said in a declaration.

It is among four verified list sites under the Federal government Land Product sales programme for the 1st half of this season.

The site is all about 1km coming from Bukit Batok MRT train station, and not definately not amenities such as Millennia Start, Bukit Batok Polyclinic and West Shopping mall.

Analysts informed The Straits Times the website could get much curiosity from programmers and traders.

We expect keen competition for the mixed site in Bukit Batok West Avenue six as generally there have not been any property sites which were launched accessible in Bukit Batok in the last three to four years, said a advisor.

The forthcoming high-speed track terminus in Jurong East and the change of the Jurong Gateway business precinct may also have a positive spillover impact on Bukit Batok, which is close to Jurong.

An additional said the upcoming development of Jurong Development District – announced in Budget 2016 – is another attract. The region, envisioned because an commercial park of the future, will be constructed as part of the Government’s push to encourage development.

Analysts estimation the site sensitive to attract up to eight or 10 offers.

The top successful bid could range between $570 and $620 psf per storyline ratio. The developer could be selling the residential models from $1, 150 to $1, 200 psf onwards, said 1.

Another desires residential models to be priced at about $1, 000 psf, with a bet price of $530 to $610 psf per storyline ratio.

There should be keen curiosity from HDB upgraders, including those in Bukit Batok new city, as the selling price could be close to basic level for private homes.