The Urban Redevelopment Authority (URA) has closed the tender for an industrial site at Pioneer Road North and Soon Lee Street with seven bids received. KNG Properties submitted the highest bid of S$64.5 million or around S$176 psf/plot ratio. The next highest bid came from NSS Development, which bid nearly S$60 million. The site was launched for public tender on June 16 on a 30-year lease. The land...
Singapore Industrial
Rental growth for hi-tech industrial space in Singapore, which includes business parks, rose at a faster pace in the second quarter than in the first quarter of this year, according to DTZ Research. The real estate services firm said the average monthly gross rent for private high-tech space increased 4.5 per cent quarter-on-quarter to S$3.45 per square foot (psf) per month in the April-June quarter,...
Singapore's industrial property market showed signs of a pick-up in the second quarter. According to Colliers International, average monthly gross rents for prime factory and warehouse spaces surged between 6 and 7 per cent on-quarter. This was the fastest quarterly growth in three years. But rents for all segments of prime factory and warehouse space are still below peak rates in the second half of...
The Urban Redevelopment Authority (URA) has awarded the tender for the industrial site at Tuas View Square to SCB Terraform Pte Ltd. SCB Terraform submitted the highest bid of S$7.33 million for the site. That translates to S$1,882.06 per square metre of gross plot ratio. The site was launched for public tender on May 24 on a 45-year lease and closed on June 29. The 4,352.5-square metre site has a...
JTC Corporation (JTC) on Friday said that it will be divesting two tranches of its properties totalling S$688.63 million to Soilbuild Group Holdings and Mapletree Industrial Trust as part of the second phase of its divestment exercise. These comprise over 300,000 square metres of property space in total. The first tranche, made up of ten blocks of flatted factories and amenity centres, will be awarded to...
The Ministry of Trade and Industry launched Thursday its Industrial Government Land Sales Programme for the second half of 2011. To continue to meet the demand for industrial land, MTI said there will be three sites in the Confirmed List and six sites in the Reserve List, with a total site area of 15.99 hectares. The three Confirmed List sites are at Soon Lee Street, Lavender Street and Kallang Avenue,...
The Urban Redevelopment Authority (URA) received a total of nine bids for an industrial site at Woodlands Avenue 12 (Parcel 2) at the close of the tender on Tuesday. The top bid of S$84.24 million was submitted by OKH Development. It works out to about S$1,636 per square metre. The second highest bidder came from NSS Properties at S$76.48 million, or S$1,485 per square metre, followed by a joint bid from...
The Urban Redevelopment Authority (URA) has awarded the tender for the industrial site at Irving Place to developer Oxley Vista. The company submitted the highest bid of nearly S$43.4 million. That translates to about S$3,697 per square metre. There were 15 bids for the site off Upper Paya Lebar Road. Launched for sale on 25 April 2011, the 60-year leasehold site has a total area of 3,353 square metres...
A freehold industrial building at 42 Alexandra Terrace has been put up for sale at an indicative guide price of S$21.8 million or about S$715 per square foot. The six-storey building is located next to the recently completed Mapletree Business City and sits on a land area of around 13,600 square feet. It has a Gross Floor Area of approximately 30,470 square feet. The property is situated in the business...
The Urban Redevelopment Authority (URA) has closed the tender for the industrial site at Irving Place after receiving 15 bids in total. Developer Oxley Vista submitted the highest bid of nearly S$43.4 million. That translates to about S$3,697 per square metre. The next highest bid came from Wega Engineering that bade S$41.3 million dollars. The site was launched for public tender on April 25 on a...