Residential site at Hillview Ave up for sale by tender

A freehold residential site at 63 Hillview Avenue currently occupied by Lam Soon Industrial Building has been put up for sale by tender.

Lam Soon Industrial Building is a 10-storey light industrial development consisting a total of 154 warehouses and light industrial factories.

The site located off Upper Bukit Timah Road, has a total size of 230,915 square feet. It is zoned for “Residential” use with a gross plot ratio of 1.92 under the 2008 Master Plan.

Marketing agent Colliers International said the indicative price is S$330 million, or S$925 per square foot per plot ratio.

Tang Wei Leng, executive director of Investment Services of Colliers International said, “the site can be re-developed into a 10-storey residential development comprising 370 units of 1,200 sq ft each.”

“Given the strong demand for light industrial buildings, the buyer may also consider additions and alteration works to retain the existing industrial building.”

The tender will close on June 28 at 3pm.

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