JTC launches two industrial sites for sale

JTC Corporation on Tuesday (July 29) launched two industrial sites at Tuas for sale under the second half 2014 Industrial Government Land Sales (IGLS) programme.

The two sites – at Tuas Bay Close and Tuas South Street 7 – were launched as part of the Government’s efforts to provide industrial space and offer more choices for industrial development, the company said in its statement.

For the Tuas Bay Close site, it has 2.7 hectares (ha) and is zoned for Business-2 development. It has a 30-year tenure with a maximum permissible gross plot ratio of 1.7. The gross plot ratio refers to the amount of gross floor area the developer can build in relation to the land area.

In addition, the 0.5-ha site at Tuas South Street 7 was successfully triggered from the Reserve List of the first half 2014 IGLS programme. It is zoned for Business-2 development, a 20-year 10-month tenure, and a maximum permissible gross plot ratio of 1.0. The minimum bid price for the land is S$3,527,300, JTC said.

Property analysts said top bids for the parcel at Tuas Bay Close is expected to range from S$67 to S$73 per square foot (psf) per plot ratio, coming up to approximately S$33.3 million to S$36.3 million in total.

SLP Internationals’ Nicholas Mak said the top bid for the land parcel at Tuas South Street 7 (Plot 44) could range from S$68 to S$77 psf ppr, which adds up to S$3.69 million to S$4.18 million in total.

The closing date for the tenders are:

Tuas Bay Close – Sep 23, 2014 11am
Tuas South Street 7 – Sep 9, 2014 11am

Source : Channel NewsAsia – 29 Jul 2014

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