JTC Corp launches two industrial sites for public tender

Two industrial sites at Sunview Road and Tuas South Street 8 have been launched for public tender by JTC Corporation.

Both sites have been slated for clean and light industrial uses only.

The site at Tuas South Street 8 has a shorter tenure of 22 years.

This is in line with the government’s efforts to make industrial property more affordable.

Still, some analysts believe the site will attract strong competition and high bids from developers.

SLP International research director Nicholas Mak expects the 0.46 hectare site to attract between nine and 14 bids.

He added that the top bid will range between S$60 and S$90 per square foot per plot ratio (psf ppr) or S$2.9 million to S$4.4 million for the entire site.

Mr Mak pointed out that this land parcel can be strata subdivided for sale during its development.

However, each strata-unit must be at least 150 square metres (sqm) in size.

Meanwhile, the 2.81 hectare site at Sunview Road should also be relatively popular among developers.

Analysts said the site may attract between four and eight bids with the top bid ranging between S$80 and S$100 psf ppr or S$60 million to S$76 million in total.

Mr Mak cited the limited supply of food factories in Singapore as a likely reason for the high interest and bids from developers.

Tenders for both sites close on October 12 at 11am.

Source : Channel NewsAsia – 31 Aug 2012

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