The 41,799 square foot lot, which is now designated as "commercial," is located on the outskirts of the Tanjong Pagar Development Area
TMW Maxwell homeowners who have owned the house since they were able to obtain another chance to win the enbloc bid, and clinch the deal at $276.8m which was higher than the $268 million asking price. The TMW Maxwell, which is located on 20 Maxwell Road, was listed for sale in September of 2020, with a reserve of $295 million however, in April of this year, the price was cut.
The following Saturday (7 May) an aggregate auction bid for the commercial 13-storey development, with 45 units, was given to Singapore-listed units Chip Eng Seng Corp, SingHaiyi Investments and Chuan Investments and Chuan Investments, who put the property on the market for bid. This TMW Maxwell sale will be subject to acceptance of the Strata Titles Board and other conditions. The joint bidders are expected to seek approval from Singapore's land authorities to get preliminary approval for renewal of 99-year leases for buildings which began leases in June 1969. Chip Eng Seng told Singapore's exchange that it is seeking Urban Redevelopment Authority approval for the site to be converted to commercial-residential mixed-use.
The TMW Maxwell site would be a commercial-residential mixed-use with an Gross site ratio at minimum 5.6 as well as gross floor area of at minimum 21,746.48 square metres, including the possibility of a commercial component that could be as high as 20% of the total floor area.
It is situated in a normal size plot of 41,799 sq feet the property is currently classified "commercial" with an area proportion of 4.3. It is a short walk from a dining and entertainment area on Tras Road, Duxton Hill as well as Keong Saik Road. The area is situated on the edge the Tanjong Pagar Development Area, it will be benefited from the revitalization of the area, as well as plans for development within The Greater Southern Waterfront (GSW).
Joint venture partners submitted an offer to the committee for collective sales of Maxwell House on 6 May 2021. Tenders were given to joint ventures a day later. The participation interests of the JV partners in this acquisition would have resulted in Chip Eng Seng holding 40%, SingHaiyi holding 30% as well as Chuan Investments controlling the remaining 30%. Chuan Investments is the wholly owned subsidiary that is part of Chuan Lim Construction, a Hong Kong listed firm that is based in Singapore with a focus on general civil engineering and construction work. It is for the very first time both companies are involved in the joint venture.
An international corporation with holdings in precast technology education, hotel, civil infrastructure, and real estate investment and development, Chip Eng Seng Corporation Limited is listed in Singapore.
As a subcontractor for landed property building, it was founded in the 1960s. By being named the major constructor in HDB projects, the Group made progress.
The company has experienced tremendous growth and now provides a wide range of services for the planning and building of executive and private condominiums in addition to private condominiums.
The Group has expanded its offerings beyond Singapore because of its vast expertise and experience in the industry. The Group now has a presence in countries such as that of the Maldives, Australia New Zealand, Malaysia and Vietnam. The company's dedication to excellence in the projects they have undertaken has led to many awards and recognitions across the globe.
The popular late-night Korean Fried Chicken restaurant Kko Kko Nara and the long-gone European eatery Table 66, which moved from 2011 Winstedt Road and has since been renovated as Skyve Wine Bistro, were once Tras Street's main draws.
a well-known brunch spot open on the weekends. Next to Cake Spade is a two-story cafe called Drury Lane Cafe. The tastiest and most authentic Korean food is served at Cho-win Garden, a restaurant on Peck Seah Street three minutes from Tanjong Pagar MRT Station.
The upscale versions of street cuisine available at Tanjong Pagar Center include the must-try XYT Hokkien Mee ($16) and XYT Ayam Percik ($26), both of which we had been returning for at the time of our visit. This trendy Argentinian restaurant with luxurious furnishings and a laid-back vibe thanks to its graffiti-style walls just relocated from Martin Road to Amoy Street. The izakaya is vibrant, contemporary, boasts street-style exteriors with murals inspired by graffiti, sexy people, and the most recent menu. A memorable dining experience is guaranteed at Gattopardo Restaurant Di Mare, one of the restaurants on Tras Street. They have a chic interior that is ideal for a private restaurant.
The plans for the redevelopment of Mt. Faber, which include plans of Keppel Club, Mt. Faber and old Pasir Panjang power station, are set to take place within the next five to 10 years making the southernmost part of the wider waterfront into an area for city development.
Greater Southern Waterfront, runs between Pasir Panjang to Marina East It will become the main entrance point for and the main destination for urban people living on the South Coast. If you thought that Marina Bay was a big place, think again. Marina Bay district was large take a look at the following: Greater Southern Waterfront will be six times larger than Marina Bay.
With the plan of the government to boost the energy of the Central Business District, as well as bringing more people living close to their work, Marina Bay, is likely to be one of those areas that will experience an increase in housing construction.