The Bukit Timah site is part of the transitional office sites that were returned to the Government. It is next to Newton MRT interchange.
The Newton MRT interchange allows commuters to get to the CBD in 6 stops on the DTL and the Orchard Road premier shopping street in 1 stop. ACS (Junior) and SJI (Junior) are within 1km of the site.
The strong demand for recent CCR launches which saw 765 units out of 1,173 units (65.2%) sold during launch may provide assurance on the robust underlying demand for prime CCR homes. Furthermore the site is right next or close to a MRT station which is a key similarity with the recent CCR launches.
Developers appeared to show an increase in interest in CCR sites judging from their firm bids for recent GLS tenders in Dunearn Road and Holland Link.
The Bukit Timah Road site may see up to 5 bidders and a top bid between $1,300 and $1,400 psf ppr.
