More land for industrial use is being made available to the market.
The Urban Redevelopment Authority (URA) said on Tuesday that it has accepted an application from a developer to put up the industrial site at Yishun Avenue 6 for public tender.
The land parcel was made available for sale through the Reserve List system in May 2007. Under the system, a site would be released for sale only if a bid with an acceptable minimum price is received.
URA said it has received an application from a developer who has committed to bid at a price of not less than S$11.5 million for the land parcel. As such, URA is making public the minimum price committed for the site.
It will launch the public tender for the site in about two weeks.
The site, which has a maximum permissible gross plot ratio of 2.5, has a 60-year lease period and an area of 14,192.8 square metres.
Source : Channel NewsAsia – 23 Feb 2010