Source : Business Times – 10 Jun 2009
THE Urban Redevelopment Authority (URA) yesterday launched the tender for an industrial site at the corner of Woodlands Industrial Park E5 and Woodlands Avenue 4. The tender closes on July 7.
This follows URA’s May 26 announcement on the successful application for the site, which is on the government’s reserve list. The successful applicant, which has not been named, has undertaken to bid at least $12.5 million or $18.57 per square foot (psf) of potential gross floor area (GFA).
The 2.5 hectare plot is being offered on 60-year-leasehold tenure with a maximum 2.5 plot ratio, which means it can be built up to a GFA of 673,077 square feet. The maximum building height is 10 storeys. The site is zoned for Business 2 development, suitable for a range of uses such as clean/light industry, general industry and warehousing.
BT’s earlier story in late May quoted Colliers International director (industrial) Tan Boon Leong as saying that the plot is likely to draw a handful of bidders, with the top bids at around $20-23 psf per plot ratio (ppr).
The site is next to a plot sold at a state tender that closed in July last year (before Lehman’s collapse) to Soilbuild Group Holdings for $30.10 psf ppr.
Soilbuild is expected to launch for sale later this year a flatted factory and terrace factory project on the plot.
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