Wednesday, November 01, 2006
[RealEdge] BT : Industrial plot located at Tuas up for tender
| Published October 31, 2006  | |
| Industrial plot located at Tuas up for tender A 3.68-hectare industrial site at Tuas is now open for application said the Urban Redevelopment Authority (URA) yesterday. The site, which is located at Tuas Bay Drive/Tuas South Avenue 3, has a maximum plot ratio of 1.0 and a lease period of 60 years. The maximum building height is 10 storeys. The land is zoned for a 'Business 2' development, which means that it can be put to general industrial use such as engineering and fabrication. Savills Singapore's director of industrial business space, Dominic Peters, said that the site could fetch about $6.2 million, or $169 per square metre (psm). A nearby site at Tuas South Ave 2/Ave 3 was sold to Yee Lee Construction for $5.8 million - or $161 psm - this year. But this time around, the price will be slightly higher, Mr Peters said. 'The market is getting better, and we think that the price will increase by about 3-5 per cent.' he said. The site is one of two put on the reserve list of the government's Industrial Land Sale Programme for the second half of 2006. Under the system, a site is only put up for public tender if a developer undertakes to bid a minimum price acceptable to the state. The other new industrial site on the reserve list is located at Sin Ming Lane. URA said that the plot will be released in November. |
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