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Industrial site in Jurong West for sale

Posted on 30 Oct 2009 | Comments Off

THE Urban Redevelopment Authority (URA) will put a 30-year leasehold industrial site in Jurong West up for tender.

The plot is at Pioneer Road North and Soon Lee Drive, near Pioneer MRT station. It became available for sale through the reserve list on Oct 30 last year.

URA said yesterday it has received an application from a developer for the 18,958.8 sq m site, which has a maximum gross plot ratio of two.

The unnamed developer committed to bid at least $8.2 million or about $20 per sq ft per plot ratio (psf ppr).

The site is zoned for Business 2 development – a range of clean, light and general industrial uses.

There has been healthy demand for recent industrial sites triggered for sale. For instance, a plot in Kaki Bukit Road 2 attracted 18 bids when the tender closed in August, while one at Woodlands drew eight bids when its tender closed in July.

Going by these results, Colliers International director (industrial) Tan Boon Leong expects ‘a handful’ of bids for the Pioneer Road North site. Continue reading →

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Posted in Office / Retail / Industrial

Tagged Land Sales, Pioneer Road North, Singapore Industrial, Soon Lee Drive, URA, Urban Redevelopment Authority

Thomson Village strata units, site on collective sale

Posted on 29 Oct 2009 | Comments Off

Separate Colliers auction sees 2 shop units, 2 houses and 1 apartment sold

The owners of eight freehold strata-titled commercial units and vacant site at Thomson Village, off Upper Thomson Road, have joined forces to sell their properties through a tender. The properties have a combined site area of 13,387 sq ft and an asking price of $24 million.

Under Master Plan 2008, the site is zoned for commercial use. ‘The plot ratio is not indicated but the site is under a streetblock plan, which means the potential developer will have to follow an envelope control guideline for the area set by Urban Redevelopment Authority. The properties could be redeveloped into a low-rise specialty retail mall,’ said Galven Tan, assistant manager (investment properties) at CB Richard Ellis, which is marketing the site.

‘Depending on the design of a new development, a 2.8 plot ratio could be achieved,’ according to Mr Tan. Plot ratio is the ratio of maximum gross floor area to land area. Assuming this plot ratio, an estimated development charge (DC) of $5 million would be payable to the state. The $24 million price works out to $774 psf per plot ratio inclusive of DC. Continue reading →