The elevated plot spans an area of 43,557 sq ft with a gross plot ratio of 1.92. It can be developed into a 10-storey condominium with a maximum gross floor area (GFA) of around 83,600 sq ft, said DTZ.
The new development will likely comprise 110 units, based on an average apartment size of around 70 sq ft.
Developing the site for residential use would incur a development charge of approximately S$14.9 million based on its plot ratio.
Tender for the site will close on 23 July.