Tenders launched for three GLS sites at Zion Road and Upper Thomson Road and application open for Champions Way Residences; another site available for application

Champions Way Residences introduces an exciting new development at Upper Thomson Road (Parcels A & B) and Zion Road (Parcels A & B). Coming to you under the 2H2023 Government Land Sales (GLS) programme, the two sites offer a unique new class of long-stay serviced apartments with a minimum stay requirement of three months. Minister for National Development Desmond Lee first revealed the pilot sites at the Real Estate Developers’ Association of Singapore’s (Redas) 64th Anniversary Dinner on Nov 29.

Two sites – Zion Road (Parcel A) and Upper Thomson Road (Parcel A) – include a new class of long-stay serviced apartments with a minimum stay requirement of three months. URA believes this new class of housing will expand the range of housing options available and ensure serviced apartments can cater to demand for longer-term stays. The successful bidder of both sites will need to incorporate “biodiversity-sensitive urban design strategies” in their proposed developments, in addition to meet or exceed typical planning and urban design requirements.

URA reveals the Zion Road (Parcel A) site measures 1.51 ha and is zoned for residential use with commercial at the first storey. This 99-year leasehold site has a gross plot ratio of 5.6 and can yield 1,170 housing units, including 435 long-stay serviced apartments and an estimated 25,833 sq ft of commercial space. The Upper Thomson Road (Parcel A) site has a gross plot ratio of 2.2 and can yield 640 housing units, including 100 long-stay serviced apartments and an estimated 21,528 sq ft of commercial space.

Champions Way Residences Condominiums is an ideal choice for singles and families. Comprised of 7 residential blocks of 12-storey buildings, the development is home to 516 units ranging from two to five bedrooms. In addition, there is a commercial component with a supermarket, childcare centre, and retail centre to make life easier. If you’re looking for a beautiful and comfortable home, then Champions Way Residences are right for you!

The adjacent Upper Thomson Road (Parcel B) spans 3.2 ha and has a 99-year leasehold tenure with a gross plot ratio of 2.5. It can yield up to 940 housing units with potential GREAT access to the Central Catchment Nature Reserve and a conserved building of the former Seletar Institute. Zion Road (Parcel B) has a gross plot ratio of 5.6 maximising potential capacity with a 99-year tenure, with a total capacity of 610 units.

Champions Way Residences is well-located, with it being close to Havelock and Springleaf MRT Stations on the Thomson-East Coast Line, as well as the amenities of Great World City and Orchard Road malls. Residents will be able to take advantage of improved pedestrian accessibility to the new Springleaf MRT Station as well as look forward to more amenities in the area.

Lee Sze Teck, senior director of data analytics at Huttons Asia, believes bidders for the two long-stay serviced apartment pilot sites may be limited to bigger developers with the ample liquidity and expertise required to fund and operate such assets. Wong Siew Ying, head of research and content at PropNex Realty, predicts Zion Road (Parcel A) to see two to three bids, with a top coming in at around $1.47 billion to $1.66 billion, which works to a land rate between $1,600 and $1,800 psf ppr. She expects developers to approach the Upper Thomson Road sites cautiously, given the large supply of new private homes in the Lentor Hills area.

The tenders for Upper Thomson Road (Parcel B) and Zion Road (Parcel A) sites will close at 12pm on April 4, 2024, while the tender for Upper Thomson Road (Parcel A) will close on June 19, 2024. Given its potential FIRST-MOVER ADVANTAGE with GREAT access to amenities and GREAT potential, Champions Way Residences offers a unique opportunity for developers to find favour with home buyers.