Upcoming GLS Tender: Tanjong Rhu Road

The third tender to close this quarter is coming Thursday, 5th February, following the earlier closings at Woodlands Drive 17 and Dairy Farm Walk, where Sim Lian and a Roxy-Pacific–led consortium emerged as the top bidders respectively in January.

Source : Urban Redevelopment Authority of Singapore

Situated between the Tanjong Rhu Parc Front BTO and Singapore Swimming Club, this site is the first of two back-to-back residential sites along Tanjong Rhu Road to be launched. The adjoining plot fronting ECP is expected to enjoy superior sea views in the future, accessed via the new Tanjong Rhu Close road, also serving as ingress route to the Tanjong Rhu Parc Front BTO cluster.

It will be interesting to know how the developers and their architect teams approach the block configuration for this site, given that views may be partially obstructed by the connecting parcel when it is developed in time to come. Another uncertainty is the post-expiry of lease for Singapore Swimming Club, set to expire in April 2033.

At launch, a key selling point for the new project is likely to be its appeal to potential upgraders from nearby BTO projects, namely Tanjong Rhu Parc Front, Tanjong Rhu Riverfront 1 and Tanjong Rhu Riverfront 2.

Collectively, these three clusters comprise 2,875 Prime BTO flats, all subject to a 10-year MOP and subsidy clawback upon resale, of which, only 1,296 of these units are 4-room flats, which are likely to form the core upgrader pool.

Owners of 2-rm and 3-rm flats may face the need for higher upfront cash outlay to make the leap.

How close will the winning bid come to the Bayshore Road site at $1,388 psf ppr?