JTC Corporation (JTC) said on Tuesday (Dec 16) that it will offer two sites in Tuas for sale by public tender.
The first site, which is on JTC’s Confirmed List, is a 0.8-hectare piece of land at Tuas South Street 11 that had been zoned for Business-2 development. The site has a 20-year five-month tenure with a maximum permissible gross plot ratio of 1.0. The tender closes on Feb 10, 2015.
Mr Nicholas Mak, executive director at SLP International Property Consultants, said the site will likely fetch between S$6.4 million and S$7.2 million.
JTC – the lead government agency responsible for the development of industrial infrastructure – also said that it has accepted an application to put up a 0.5-hectare industrial site at Tuas South Street 7 for sale.
The site, which had been on the Reserve List, is also zoned for Business-2 development. Companies operating on such sites face tougher restrictions such as a nuisance buffer of more than 50 metres.
An unnamed buyer had committed to a bid price of at least S$4.2 million for the second site, which has a 20-year four-month tenure with a maximum permissible gross plot ratio of 1.0.
Under the Reserve List system, a site will be put up for sale if a developer’s indicated minimum price is acceptable to the Government. The public tender for the Tuas South Street 7 site is scheduled for end-December with a tender period of six weeks.
Source : Channel NewsAsia – 16 Dec 2014