SINGAPORE — A mixed private residential and commercial site along Upper Serangoon Road has been launched for sale on Monday (March 6) by the Housing and Development Board (HDB), with analysts saying the tender is likely to see strong interest from developers because of its attractive location.

The 99-year leasehold site, released from the Confirmed List of the second half 2016 Government Land Sales programme, sits on 25,440.8 square metres, or about 273,842 sq ft, of land. With a maximum permissible gross floor area of 89,043 square metres, or 958,450 sq ft, the site can yield an estimated 825 non-landed housing units, while up to 15,000 square metres of GFA can be developed for shop and restaurant use.

The land parcel was previously scheduled for sale in December but the tender was deferred to allow the site requirements to be finalised for comprehensive development, the HDB said in its capacity as the Government’s land sales agent. The development on the site has to be integrated with a community club and a neighbourhood police centre, it said.

Mr Nicholas Mak, Head of Research & Consultancy Department at SLP International Property Consultants, said positive attributes of the site include its location adjacent to Woodleigh MRT Station, its fairly large and not too irregular shape; its close proximity to the upcoming new Bidadari housing estate with an estimated future population of about 60,000 people; and its being the only mixed-use site in the estate available for sale.

“The future shopping centre on this site should attract a high number of residents from the Bidadari estate. It would also enjoy the first mover advantage as the first shopping centre in the Bidadari estate,” he said.

“This tender could draw about eight to 16 bids. The top bid in the tender for this site could range from S$680.5 million to S$719 million, or S$710 to S$750 per sq ft per plot ratio,” he added.

The tender for the land parcel will close at noon on June 13.