28 Aug '14, 2pm

Gambas Crescent industrial site draws 4 bids

Gambas Crescent industrial site draws 4 bids

E-mail to friend Bookmark & Share The industrial site at Gambas Crescent (Parcel 4) has drawn a total of four bids at the close of its tender on Tuesday, the Urban Redevelopment Authority (URA) said in a release. Launched for tender on 29 June, the 15.7ha site received a top bid of S$35 million, from NSS Realty. This translates to approximately S$83 per square foot per plot ratio. The site, zoned for Business-1 use is offered on a 30-year lease and has a maximum permissible gross plot ratio of 2.5. Meanwhile, a site off Tuas South Avenue 7 (Plot 12) received a top bid of S$31 million from Hock Lian Seng Holdings. Measuring 276,632 sq f, the bid translates to about S$56 per sq ft per plot ratio. Launched for tender simultaneously with the Gambas Crescent site, the plot zoned for Business-2 development is also offered on a 30-year lease and has a maximum permissible gross pl...

Full article: http://www.commercialguru.com.sg/property-management-news...

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