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Govt launches four industrial sites totalling 3.4 hectares

SINGAPORE — JTC Corp and the Urban Redevelopment Authority yesterday released four sites with a total land area of 3.4 ha for sale under the Second Half 2013 Industrial Government Land Sales programme.

SINGAPORE — JTC Corp and the Urban Redevelopment Authority yesterday released four sites with a total land area of 3.4 ha for sale under the Second Half 2013 Industrial Government Land Sales programme.

The two sites in Tuas South — Plot 4 and Plot 28 — have land areas of 32,687 sq ft and 54,330 sq ft, respectively. They are zoned for Business 2 development, each with a tenure of 21 years and 9 months and a gross plot ratio of 1.0.

Mr Nicholas Mak, Executive Director of Research & Consultancy at SLP International Property Consultants, said: “These two sites are likely to be bought by industrialists who will build factories for their own use. Presently, there is fairly healthy demand for such industrial land parcels with low plot ratio.”

Plot 28 would likely be more popular as it has dual frontage facing Tuas South Avenue 7 and Tuas South Street 7, he added.

He estimated the top bids for Plot 28 at S$4.7 million to S$5.2 million, or S$88 to S$95 per sq ft per plot ratio. For Plot 4, he expects the top bid at S$2.7 million to S$2.9 million, or S$84 to S$90 psfppr.

The other two sites in Gambas Crescent — Parcel 1 and Parcel 2 — have land areas of 129,885 sq ft and 145,710 sq ft, respectively. They are zoned for Business 1 development, each with a 30-year tenure and a gross plot ratio of 2.5.

Mr Mak said these two sites would be large enough to offer developers a variety of development options, such as flatted factories, ramp-up factories, and low-rise multi-storey facilities where some of the strata-units can come with high floor-to-ceiling heights to cater to the needs of the logistics firms.

He added that Parcel 2 would likely attract a higher bid due to its regular shape and bigger size. He estimated the top bid for Parcel 2 at S$37.3 million to S$41.9 million, or S$108 to S$115 psfppr. For Parcel 1, he expects the top bid at S$32.4 million to S$35.7 million, or S$100 to S$110 psfppr.

The tenders for the Tuas South and Gambas Crescent sites close on Oct 10 and Oct 17 respectively.

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