Press Release
25 May 2023
Launch of land parcel at Champions Way
FOR IMMEDIATE RELEASE
Singapore, 25 May 2023 – The government has just launched the land parcels at various sites for sale.
https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr23-15
Champions Way
The Urban Redevelopment Authority (URA) has just launched the tender for a land parcel on the Government Land Sales Confirmed List at Champions Way. The site is zoned for Residential (non-landed) use, with an estimated site area of 1.44ha, a Gross Plot Ratio (GPR) of 2.1, and can yield an estimated 350 units. The tender will close on 12 September 2023.
https://www.ura.gov.sg/maps/?service=GLSRELEASE&site=1011
This is the first Government Land Sale (GLS) in Woodlands since 2011. The previous GLS for a private development was in Woodlands Avenue 2/Rosewood Drive. This project is called Parc Rosewood which has been completed and fully sold. The most recent Executive Condominium plot sold by HDB in Woodlands was in 2015, which is the current Northwave.
Site analysis
The site is well located, within 1 km of 4 primary schools such as Innova Primary School, Woodgrove Primary School, Si Ling Primary School, and Woodlands Primary School. It is near secondary schools like Christ Church Secondary School, and Woodgrove Secondary School, and the Singapore Sports School. The project will be popular among families, especially sports lovers, due to the proximity to many schools, especially the Singapore Sports School. A childcare centre will also be built within the site, catering to younger families.
The site is within walking distance of the Woodlands South MRT Station, which is on the Thomson-East Coast Line (TEL). The future development of the Woodlands Regional Centre into the largest economic hub in Singapore’s North Region would make this project enticing for those working or planning to work in the area. Commuters can also travel to Orchard via the TEL and the ride is slightly over half an hour. Therefore, residents will find the site accessible and well-connected to many parts of the island.
As the site is near the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) via the TEL, tenants who are expats and EP holders from Malaysia will find this project attractive. Therefore, many investors may want to buy a unit for investment or rental income.
Projected bid price
Due to a lack of new private home supply, there will be pent-up demand from HDB upgraders living in Woodlands. First-timers unaffected by the ABSD increase may buy units at this new project.
As this plot is quite attractive and accessible, we anticipate keen interest from developers. There could be around 5 to 8 bidders, and the bid price may range between S$950 to S$1,050 psf ppr.