The Urban Redevelopment Authority has launched the tender for a commercial site at the junction of New Bridge Road and North Canal Road after getting a S$21.5 million bid from an unnamed developer.
The 1,300 square metre site is suitable for a small-scale office development.
With a gross plot ratio of 4.2, it can generate a maximum gross floor area of about 5,400 square metres.
The 99-year leasehold site can accommodate a building of up to six storeys.
Separately, JTC Corporation is launching a 20,000 square metre site at Enterprise Road for sale by public tender.
This is after an unknown developer committed to bid at least S$4.6 million for the site.
The land parcel has a maximum gross plot ratio of 1.4.
Under the government’s land sales programme, sites placed for sale on the Reserve List will only be put up for tender when an interested party offers to bid a minimum purchase price that is acceptable.
Source: Channel NewsAsia, 21 December 2006