26 Dec '14, 3pm

UBTS the top bidder for industrial site in Tanjong Penjuru. Read more

UBTS Pte Ltd, a local logistics and warehousing company set up in the 1960s, has emerged as the top bidder for an industrial site in Tanjong Penjuru, less than 1 km from the company's existing business premises. Its bid of S$9.3 million for the 1.6-hectare site, being sold on 20-year tenure, works out to S$21.19 per square foot per plot ratio (psf ppr). This was almost double the S$4.8 million that Soilbuild Group Holdings, the only other bidder for the site, offered. The site is zoned for Business 2 use and has 2.5 plot ratio (ratio of maximum gross floor area to land area) Making an educated guess, SLP International executive director Nicholas Mak said the subject site is most likely for UBTS' own use as it transfers its operation to the new site from its existing premises. The tender for the site closed on Tuesday. On the same day, JTC also closed the tender for another...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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