Land site up for sale

		A government land parcel has been triggered for sale, after a developer commited to bid at least $40.5 million for a commercial and residential site at the junction of Yio Chu Kang and Seletar road. –PHOTO: URA

A GOVERNMENT land parcel has been triggered for sale, after a developer commited to bid at least $40.5 million for a commercial and residential site at the junction of Yio Chu Kang and Seletar road.

It has a site area of 2.1 ha. With a gross plot ratio of 1.4, it can generate a maximum permissible gross floor area of about 29,400 sq m.

The site was made available for sale via the reserve list system since last November. Under this sale method, a site will be put up for tender only if developers indicate interest by committing to a minimum bid.

The Urban Redevelopment Authority said it will launch the tender for sale in about two weeks. The date will be announced later.

Source : Straits Times – 8 August 2009