JTC Corporation has put up an industrial site at Tai Seng Link for sale by public tender on Tuesday. The 0.43-hectare site has a lease of 30 years and a maximum permissible gross plot ratio of 2.5. It has been zoned for B2 clean and light development, JTC said. The Tai Seng Link site could potentially attract between eight and 17 bidders, said Nicholas Mak, executive director for Research &...
Singapore Industrial
The Urban Redevelopment Authority (URA) launched on Thursday the industrial site at Kaki Bukit Road 5 for sale by public tender. This is the third site out of the 16 industrial sites to be released for sale under the Confirmed List of the First Half 2012 Industrial Government Land Sales Programme. The remaining 13 sites will be progressively released for sale in the first half of this year. The land...
An industrial site at Sims Drive has received a top bid of S$43.39 million at a Government Land Sales tender. The tender attracted a total of 14 bids. The top bid was put in by Fragrance Biz Space. It was also almost 25 per cent higher than the second highest bid of S$35 million from Mezzo Development. Based on the top bid, the land price works out to be S$2,749 per square metre of gross plot...
Developers and property agents must not mislead buyers into mis-using industrial land for unauthorised commercial or office activities. In fact, they are required to inform prospective buyers upfront that industrial units can only be used for industrial activities. In a blog post on Friday, National Development Minister Khaw Boon Wan said some appear to be abusing the lower rentals at industrial premises...
The recently imposed Additional Buyer's Stamp Duty (ABSD) on certain categories of residential properties had some analysts predicting a spillover of demand to non-residential properties like industrial, retail or office strata units, but the situation might not be as straightforward as it seems. Industrial strata units have always been an alternative investment to residential properties given its...
Industrial property developer JTC Corporation has launched an industrial land site at Serangoon North Avenue 4 for sale by public tender. The 0.8 hectare site is part of the Industrial Government Land Sales Programme introduced in December 2011. The site has a lease of 58 years and a maximum permissible gross plot ratio of 2.5. It is zoned for Business 1 development, such as light industry, clean...
Singapore's retail and industrial property sectors are expected to continue to outperform the office market, which is feeling the impact of dampened demand from financial firms, analysts say. Across the board, the pace of increase for rentals and prices in the three sectors declined in the fourth quarter of last year, data released by the Urban Redevelopment Authority (URA) showed yesterday. But the...
Rents for business park space and offices have stagnated over the last six months. This is according to research by DTZ which is part of commercial property giant UGL Limited. Rent for business park space has remained unchanged at S$4.38 per square foot per month in the second half of 2011. This is a contrast to the robust 6.6 per cent growth registered in the first half. Likewise, average rent for...
The Urban Redevelopment Authority (URA) has released the detailed sales conditions for two industrial sites at Yishun Avenue 9 (Parcels 5 and 6) today. The two land parcels at Yishun Avenue 9 are made available for application under the Reserve List of the 2nd half 2011 Industrial Government Land Sales Programme, as announced by the Ministry of Trade and Industry on 30 June 2011. Developers interested in...
The tender for the industrial site at Soon Lee Street closed on Tuesday with only three bids. The top bid of S$48.1 million was submitted by KNG Group. This works out to S$1226.15 per square metre. It is also about 40 per cent higher than the second highest bid of S$33.8 million submitted by Soilbuild Group. Elitist Development comes in third with a bid of S$27 million. The Urban Redevelopment...