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A heavy vehicle park site at Chin Bee Road attracted seven bids at the close of its tender on Tuesday (22 November), the Urban Redevelopment Authority (URA) revealed.
The 0.96ha site at Fourth Chin Bee Road received a top bid of S$5 million, which translates to S$518.05 per sq m based on the site area of 9,651.5 sq m.
The top bid, which was offered by Hock Seng Heng Transport & Trading Pte Ltd, is about S$1.22 million higher than the second highest bid of just S$3.78 million from iG Warehousing. The lowest bid for the site was at S$945,847, from WTS Development.
Offered on a 10-year lease, the site was launched for tender on 22 September. According to URA, the award of tender will be decided after all the bids have been evaluated. It will be announced at a later date.
Image: Location map of the heavy vehicle park site at Fourth Chin Bee Road. (Source: URA)
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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