The Urban Redevelopment Authority (URA) has accepted an application from a developer to put up the industrial site at Pioneer Road North/Soon Lee Street for sale via public tender.
The developer has committed to bid at a price of not less than S$13.8 million in the tender for the land parcel, which was made available for sale through the Reserve List system on 27 May 2010, URA said in a statement.
The land parcel, with a lease period of 30 years, has a site area of over 14,400 square metres and a maximum gross plot ratio of 2.0.
Zoned for Business 2 development, the land parcel can be developed for a variety of uses such as clean, light and general industries which include industries related to biotechnology, vehicle repair and servicing, and manufacture of electrical and electronic products.
URA said as the minimum price committed by the developer is acceptable to the government, the site will be released for sale via public tender.
In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site, but the identity of the applicant will not be released.
URA said the public tender for the site will be launched in about two weeks. The launch date will be announced later and the tender period will be about four weeks.
Source : Channel NewsAsia – 20 Oct 2010