Avenue South Residence by UOL Team is a 99 years growth by Singapore-listed UOL Group in a joint venture with sister firms, United Industrial Corp and also Kheng Leong Business. The condominium is located in the Tanjong Pagar area and also the Mount Faber/Telok Blangah area, and also a brief drive to Chinatown as well as Outram Park Belt.
Similar to any type of property residential or commercial properties, a variety of aspects will impact the PSFs and also Cost of Avenue South Residence.
The tender for Silat Avenue government land site closed on April 26 with a solitary bid from Singapore-listed UOL Group (Joint Venture). The bid shut at $1.035 billion, or $1,138 psf per story proportion.
According to Ms. Tricia Tune, head of research for Singapore at Colliers International, “Silat Avenue is an appealing site within 2 kilometers from the Central Enterprise Zone, and also we believe the underwhelming tender result could be because of the large size of the site and fairly untried place, away from MRT terminals”. She additionally approximated a breakeven cost of S$ 1,600 psf as well as a selling Avenue South Residence rate of between S$ 1,800 and S$ 1,900 psf.
Presently, the current info from the developer has actually seen a higher tentative rate psf of in between $2000– $2300. This could likely see a modification on launch, as well as we will certainly provide one of the most updated prices on the revealed unit mix in Q3.