JTC Corp has launched the North Buona Vista Drive for sale by public tender.
The 1.8 hectare, 99-year leasehold site is located at the junction of North Buona Vista Road and Commonwealth Avenue West.
It has a potential yield of about 112,000 square metres, with 2,000 square metres set aside for retail use.
A developer has since committed to bid at least S$320 million for the land parcel in the public tender.
The tender will close at 12 noon on July 27.
JTC says the site will be developed into a high-rise commercial building.
It will provide office space outside the central business district to support research institutes at One-North.
Upcoming developments of the One-North hub include an integrated hotel, residential and retail development and a Civic, Cultural and Retail Complex.
Source : Channel NewsAsia – 2 Jun 2010