Published January 25, 2011

JTC launches tender for Ubi site


(SINGAPORE) JTC yesterday launched a 60-year leasehold industrial site at Ubi Road 1/Ubi Avenue 4 for sale by public tender.


According to its announcement last month, a developer has committed to a bid price of not less than $29.38 million, or $88 per square foot per plot ratio (psf ppr) for the site.

The 1.24 hectare site on the reserve list under the Government Land Sales Programme has a maximum permissible gross plot ratio of 2.5. It is zoned for Business 1 development, which means light and clean industry and warehouse uses are allowed.

According to Colliers International industrial director Tan Boon Leong, the site is 'an attractive plot', due to its size and proximity to MRT stations. 'This site is much smaller in hectares, therefore it is more bite-sized. It is also between two MRT stations - Tai Seng and MacPherson.'

In addition, the site is close to the 3.5 ha industrial site won last August by Oxley Rising, which offered a bid of $158.1 million, or $169 psf ppr.

The Oxley Rising site, which has a 2.5 plot ratio and is also zoned for Business 1 development, had 11 bidders, including companies like Qingdao Construction (Singapore) and Sim Lian Holdings.

Mr Tan said the Oxley Rising site has a better frontage, but the size of the Ubi Road 1/Ubi Avenue 4 plot will make it popular. He expects competition for this site to be 'hot', as 'current sentiment is good for doing industrial work'.

The tender for this site will close at 11am on March 7.


Source: www.businesstimes.com.sg

Published October 30, 2010

By FELDA CHAY

NATIONAL industrial infrastructure developer JTC Corporation has called a public tender for a site between Old Toh Tuck Road and Toh Tuck Avenue.

The 108,533 sq ft parcel has a gross plot ratio of 1.6 and a 30-year lease. It is slated for logistics use - which includes storage, development packaging, containerisation and general warehousing. It comes with a project completion period of 96 months. The tender opened yesterday and closes on Dec 10.

The site is in Toh Tuck Logistics Park, which is home to firms like Agility Logistics Holdings (Singapore), Sanyo Singapore and World Scientific Publishing Company - a publisher of medical journals and books. The location is close to the Pan Island Expressway and upcoming Jurong Gateway - touted as the biggest commercial hub outside the city centre.

The parcel is one of three industrial sites to be launched for tender under the Confirmed List of the government's industrial land sale programme for the second half of this year. It is also the last of the three to be put on sale. In August, JTC released a site in Yishun Street 23 under the programme. The Yishun plot has an area of 500,522 sq ft, has a 60-year lease and is to be developed as a ramp-up factory with direct vehicle access to all units.

In July, the Urban Redevelopment Authority announced that a 322,917 sq ft industrial site at Kaki Bukit Avenue 4 was up for sale by public tender. Wee Hur Holdings subsidiary Wee Hur Development won the tender with a bid of $76.8 million for a 60-year lease.

Sources: http://www.businesstimes.com.sg