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Industrial landlord JTC has awarded the tender for the site at Braddell Road to BP-SH1 Pte Ltd, after it submitted the highest bid of $53.6 million.
Launched for tender on 30 May, the site attracted eight bids at the close of the exercise on 1 August.
Zoned for Business 1 use, the 9,716.2 sq m site has a gross plot ratio of 2.5 and a leasehold tenure of 30 years.
JTC noted that the development to be built on the site should be completed within 60 months.
Meanwhile, the tender for the site at Tanjong Penjuru (Plot 2) will not be awarded as the price offered by the sole bidder was below the reserve price, said JTC.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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