Monday, November 27, 2006
[RealEdge] BT : Tuas site attracts $5.1m bid
| Published November 25, 2006  | |
| Tuas site attracts $5.1m bid
THE Urban Redevelopment Authority has received a committed bid of $5.1 million from an unnamed developer for an industrial site in Tuas that is on the reserve list of the Government Land Sales (GLS) programme. The site - at Tuas Bay Drive/Tuas South Avenue 3 - will be put up for public tender in two weeks. The site was put on the reserve list about four weeks ago. Two other industrial sites remain on the reserve list. At the committed price of $5.1 million, the site would cost about $13 per square foot. The final bid price is expected to be higher. In April, another industrial site in Tuas on the GLS programme was sold for $5.8 million or about $15 psf. The site at Tuas Bay Drive/Tuas South Avenue 3 has an area of about 3.68 hectares and maximum permissible gross plot ratio of 1.0, with a lease period of 60 years. It is zoned for Business 2 development and has a building height restriction of 10 storeys. |
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