An industrial site in Yishun has been launched for sale by public tender.
The Urban Redevelopment Authority (URA) said the land parcel has been made available for sale through the Reserve List system since 2007. Under the system, a site would be released for sale only if a bid with an acceptable minimum price is received.
Last month, URA announced that it had received an application from a developer to put up the Yishun site for tender. The developer has committed to bid at least S$11.5 million for the site.
The land parcel has an area of about 1.4 hectares and a maximum gross plot ratio of 2.5. It can be developed for a variety of uses under “Business 1″ zoning.
The site will have a lease period of 60 years. The tender will close on April 13.
Source : Channel NewsAsia – 15 Mar 2010
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