The site was launched for public tender on August 15, 2011.

It was originally on the Reserve List of the Government Industrial Land Sales Programme.

URA had, on July 29, accepted a successful application for the sale of the site, offered on a 60-year lease.

Four bids were received, the highest from OKH Development for S$71.84 million.

The winning bid was 6.8 per cent higher than the second highest bid of S$67.29 million submitted by Ho Lee Properties.

Li Hiaw Ho, executive director at CBRE Research noted that the bid by OKH was almost twice the winning bid of S$75 psf/plot ratio placed by Boon Keng Development Pte Ltd in April 2010 for the nearby site at Woodlands Avenue 12, adding that the development is said to be about 65 per cent sold.

“The top bid of S$142 psf/plot ratio is slightly lower than the top bid of S$152 psf/plot ratio submitted by OKH Development Pte Ltd in June 2011 for Woodlands Avenue 12 (Parcel 2). If awarded Parcel 3, OKH Development can develop it together with Parcel 2 which is located beside the subject site. The combined site can yield a massive development with a maximum gross floor area of 98,490 square metres,” added Li.

URA said it will announce the tender award once the bids have been evaluated.

Source : Channel NewsAsia – 13 Sep 2011

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The land parcel was made available for sale through the Reserve List system on 24 March 2011.

The tender was triggered because URA received an application from a developer at a price of at least S$56.15 million for the land parcel on a 60-year lease.

The 1.9-hectare site has a maximum permissible gross plot ratio of 2.5 and is zoned for Business 1 development. That means the site can be developed for various uses such as light industry, clean industry, utilities, or telecommunication uses.

The tender for the site will close at noon on 13 September 2011.

Selection of the successful bidder will be based on the tendered land price only.

URA said any tender below the minimum bid price of $56,150,000 will not be considered.

Source : Channel NewsAsia – 15 Aug 2011

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The land parcel was made available for sale through the Reserve List system on 24 March 2011.

The tender was triggered because URA has received an application from a developer at a price of at least S$56.15 million for the land parcel on a 60-year lease.

The 1.9-hectare site has a maximum permissible gross plot ratio of 2.5 and is zoned for Business 1 development. That means the site can be developed for various uses such as light industry, clean industry, utilities, or telecommunication uses.

The launch date will be announced later and the tender period will last about four weeks.

Source : Channel NewsAsia – 29 Jul 2011

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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 Qingdao Construction and ZACD Investments at S$61.56 million, or S$1,196 per square metre.

EL Development submitted the lowest bid of S$38 million, or S$738 per square metre.

The site was one of four sites under the confirmed list for the first half of this year and has an area of nearly 20,600 square metres, with a maximum gross plot ratio of 2.5.

It was offered for sale on a 60-year lease on May 3.

URA said it would announce the award of the tender at a later date after the bids have been evaluated.

Commenting on the tender results, CB Richard Ellis (CBRE) said the top bid of S$84.24 million was about 10 per cent higher than the second highest bid, and more than twice the winning bid of S$65.18 million placed by Boon Keng Development for a nearby site at Woodlands Avenue 12 (Parcel 1) in April 2010.

Bernard Goh, director of industrial & logistics services at CBRE, said: “The positive business sentiment for the industrial sector may have caused some investors to divert some funds from residential property to the industrial property. This in turn pushed up the demand for industrial space and industrial land.”

Source : Channel NewsAsia – 28 Jun 2011

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It has a site area of about 1.9 hectares and a maximum permissible gross plot ratio of 2.5 with a lease period of 60 years.

Zoned for Business 1 development, the site can be developed for various uses such as light industry, clean industry, utilities, or telecommunication uses.

This is the second of the four new industrial sites to be released for sale under the Reserve List of the Government Industrial Land Sales Programme for the first-half of 2011.

The other two industrial sites are at Gambas Avenue and Kaki Bukit Road 4.

They will be released for sale in June.

Source : Channel NewsAsia – 24 Mar 2011

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URA said the company submitted the highest bid in the tender for the site.

The tender was launched on 25 March 2010 and closed on 21 April 2010.

The land parcel was offered for sale on a 60-year lease.

Source : Channel NewsAsia – 27 Apr 2010

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Boon Keng’s bid, which works out to $75 per square foot per plot ratio (psf ppr), is 29 per cent higher than the second highest bid of $50.6 million ($58 psf ppr) submitted by TGFB Pte Ltd and more than twice the application bid which triggered the tender. There were six bids in all for the site from developers including Soilbuild Group and Wee Hur Holdings

The 60-year leasehold site was launched after an unnamed party committed to bid at least $25.0 million ($29 psf ppr) for it last month. The site has a maximum gross floor area of 868,628 sq ft.

‘The strong GDP growth of 13.1 per cent year-on-year in Q1 2010, driven by a 30 per cent year-on-year surge in the manufacturing, has resulted in demand for new industrial space as evidenced by the six bids received by the Urban Redevelopment Authority,’ said executive director of CBRE Research Li Hiaw Ho.

The top bid is also more than twice the winning bid for industrial sites in Woodlands in the past two years.

A 60-year leasehold industrial site at the junction of Woodlands Industrial Park E5/Avenue 4 was awarded to Wee Hur in July last year for $22.9 million, or $34 psf ppr. And before that, a 60-year leasehold site along Woodlands Industrial Park E5 was awarded to Soilbuild Group in July 2008 for $13.6 million, or $30 psf ppr.

Mr Li estimates that the breakeven cost for this development is estimated to be about $240 psf to $260 psf. In the first four months of 2010, strata-titled units in Admiralty Industrial Park, located along Woodlands Industrial Park E1, went for between $163 psf and $249 psf, CBRE’s data shows.

Source : Business Times – 22 Apr 2010

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The price translates to about S$75 per square foot per plot ratio.

The top bid is some 29 per cent higher than the second highest offer of S$50.6 million from Affluence Resource.

Whye Wah Group put in the lowest bid of S$31 million.

All in, the Urban Redevelopment Authority (URA) received six bids for the site.

The land parcel, which has a lease period of 60 years, has a site area of about 3.2 hectares and a maximum gross plot ratio of 2.5.

It can be developed for a variety of uses under “Business 1” zoning.

The site had previously been placed on the reserve list in December 2009.

Consultant CB Richard Ellis said the breakeven cost for the development is estimated to be about S$240-S$260 per square foot.

Source : Channel NewsAsia – 21 Apr 2010

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An unnamed developer has agreed to bid at least $25 million or $28.78 per square foot per plot ratio (psf ppr) for the 60-year leasehold plot. The site is zoned Business 1, which means light and clean industry and warehouse uses are allowed.

The 347,451 sq ft land parcel can be built up to a maximum gross floor area of 868,628 sq ft. The tender for the plot closes on April 21.

Bernard Goh, director, industrial services at CB Richard Ellis, reckons the plot will be attractive to bidders who are contractors as well as developers. ‘It may attract three bids, with the top bids likely to be in the $35-40 psf ppr range,’ he added.

Colliers International data shows that three industrial sites have been sold in the Woodlands area in the past four years at prices ranging from $28 to $35 psf ppr. The sites are zoned Business 2, which also includes general industrial use.

The latest plot on offer, at Woodlands Avenue 12, was made available for application under the Government’s reserve list system in December last year.

Ministry of Trade and Industry’s Industrial Government Land Sales Programme for first half 2010 comprises eight reserve list sites (including the latest plot at Woodlands Ave 12 which has been triggered) and two confirmed list sites.

Source : Business Times – 26 Mar 2010

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The Urban Redevelopment Authority (URA) said a developer has committed to bid at least S$25 million for the land parcel.

The land parcel, which has a lease period of 60 years, has a site area of about 3.2 hectares and a maximum gross plot ratio of 2.5. It can be developed for a variety of uses under “Business 1” zoning.

The tender will close in four weeks on April 21.

The site had previously been placed on the reserve list in December 2009, where it would have been released for sale only if a bid with an acceptable price is received.

The reserve list system was enhanced earlier on March 8, when the government said it would release sites on the list when there is sufficient market interest.

A site is deemed to have received sufficient interest if more than one unrelated party submit minimum prices that are close to the government’s reserve price for the site, within a reasonable period.

Source : Channel NewsAsia – 25 Mar 2010

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