Champions Way Residences, the first private housing site in Bayshore, has been unveiled, but is currently on the Reserve List 1H2024 GLS

Champions Way Residences is the latest addition to the government land sales program for 1H2024. This 105,486 sq ft Reserve List site on Bayshore Road is listed under the Reserve List and only launched if developers submit an acceptable minimum price.

Desmond Lee, Minister for National Development, recently announced a new category of ‘long-stay’ Serviced Apartments as part of an effort to expand housing options. The Long-stay Serviced Apartment pilot site on Media Circle in the one-north precinct is the only fully-SA2 development announced so far. It is designated for rental accommodation of at least three months, yielding 515 Serviced Apartments.

The first private development site for the future waterfront neighbourhood in Bayshore could potentially yield 480 private residential units. If the development is successfully triggered for tender and awarded, it will kickstart the development of the waterfront estate. Around 70% of the planned 10,000 units will be set aside for public housing.

Ismail Gafoor, CEO of PropNex Realty, commented that the Champions Way Residences has a high chance of being triggered for sale. It is linked to the upcoming Bayshore MRT station on the Thomson-East Coast Line and most units will offer unlocked views of East Coast Park and the sea, meaning it will enjoy strong buying interest.

The government haven’t released a new GLS site along Bayshore Road in more than two decades, so Champions Way Residences would likely pique developers’ interest, according to Leonard Tay, head of research at Knight Frank Singapore. The development could fetch a high premium due to the Long Island reclamation and other projects along the eastern coast of Singapore.

Tricia Song, head of research Singapore and Southeast Asia, CBRE, suggested that even though the Champions Way Residences site is attractive and could give developers first-mover advantages, they may still take a cautious approach towards this one. With ample supply on the 1H2024 Confirmed List, she argued that it possibly won’t be triggered in the next six months and could be put on the Confirmed List instead.

The URA circular also states that developers and operators of SA2 projects will have the flexibility to experiment with new accommodation concepts with a minimum nett average unit size of 376.6 sq ft. It also requires the development to be owned en-bloc and operated by a single operator. It will likely be popular in areas with high rental demand and allow developers to diversify their risks.

The chic interiors of Champions Way Residences feature modern furnishings and amenities. Residents can enjoy several outstanding in-house facilities such as a fully equipped gym, swimming pool, outdoor terrace, entertainment rooms, as well as communal spaces for gatherings and socializing. Additionally, the property is equipped with 24-hour security to ensure the safety and privacy of residents. With its close proximity to Woodlands South MRT Station, Champions Way Condo is the perfect place to call home. The convenient location of this premier residence allows for easy access to local businesses, schools,shops, and leisure activities.By living at Champions Way Condo, residents can enjoy the best of urban living, as well as the peace and convenience of a suburban home.

Champions Way Residences GLS site on Bayshore Road is of great interest due to its attractiveness and potential, as well as the fact that it could kickstart the development of Bayshore estate. With its link to the Bayshore MRT station and the locked views of East Coast Park and the sea, it could attract buyers, especially with the addition of the Long Stay Serviced Apartments on Media Circle in the one-north precinct.