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Residential site at Hillview Ave up for sale by tender

Posted on 24 May 2012 | Comments Off

A freehold residential site at Hillview Avenue which is currently occupied by Lam Soon Industrial Building has been put up for sale by tender.

The site at 63 Hillview Avenue, off Upper Bukit Timah Road, has a total size of 230,915 square feet.

Under the 2008 Master Plan, the site is zoned for “Residential” use with a gross plot ratio of 1.92.

Marketing agent Colliers International said the indicative price for the site is S$330 million, or S$925 per square foot per plot ratio.

Tang Wei Leng, executive director of Investment Services of Colliers International, said the site can be re-developed into a 10-storey residential development comprising 370 units of 1,200 sq ft each.

She added that given the strong demand for light industrial buildings, the buyer may also consider additions and alteration works to retain the existing industrial building.

The current Lam Soon Industrial Building is a 10-storey light industrial development comprising a total of 154 warehouses and light industrial factories.

The tender will close on June 28 at 3pm.

Source : CNA – 2012 May 23

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Posted in Government, Office / Retail / Industrial, Property Market / Real Estate

Tagged Hillview Avenue, Lam Soon Industrial Building, Residential Site, tender, Upper Bukit Timah Road

JTC Corp allocates more industrial land in Q1

Posted on 24 May 2012 | Comments Off

JTC Corp has allocated more industrial land in the first quarter of this year.

In its quarterly facilities report, JTC said the net allocation of Prepared Industrial Land (PIL) in the first quarter has more than doubled to 67.9 hectares (ha) compared to the last quarter.

This is in line with the planned increase in land supply under the Industrial Government Land Sales (GLS) Programme for 16 industrial sites, in the first half of 2012.

The gross allocation almost doubled to 91.6 ha while terminations increased by 41 per cent to 23.7 ha.

The strong gross allocation during the quarter was supported by a 17 ha allocation to a specialty chemicals company on Jurong Island.

The Temporary Occupation Licence (TOL) Land accounted for 21.3 ha of net allocation while non-TOL Land accounted for 46.6 ha.

JTC also registered a healthy 95.9 per cent occupancy for its Ready-Built Facilities (RBF).

This is despite the occupancy level registering a marginal decline of 0.4 percentage points, compared to the last quarter.

The net allocation of RBF improved to 5,700 square metres (sqm) from -14,800 sqm.

Flatted factory net allocation also improved from -6,100 sqm to -400 sqm, while standard factory turned around with net allocation from -7,700 sqm to 3,800 sqm.

Source : CNA – 2012 May 23