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JTC has launched two industrial sites – a confirmed list site at Tampines Industrial Drive (Plot 7) and a reserve list site at Woodlands Height – under the second half 2015 Industrial Government Land Sales (IGLS) programme.
Zoned for Business 2 development, the 4,112.5 sq m site at Tampines Industrial Drive (Plot 7) has a 20-year tenure and a maximum permissible gross plot ratio of 1.4.
Tender for the site closes on 19 January 2016.
Meanwhile, the reserve list site at Woodlands Height has a land area of 16,148.6 sq m and is zoned for Business 1 development. It has a 30-year tenure and a maximum permissible gross plot ratio of 2.5.
Under the Reserve List system, a land parcel will only be released for sale if it receives an offer of a minimum price that is acceptable to the Government or when there is sufficient market interest for the site.
It is noted that a site is deemed to have received sufficient market interest if more than one unrelated party submits minimum bids that are close to the government’s reserve price for the site within a reasonable period.
Composite image, (Source: JTC)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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