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A freehold industrial site measuring 13,739 sq ft at 464 Tagore Industrial Avenue in Upper Thomson was put up for sale earlier this month by marketing agent OrangeTee & Tie.
The agency revealed that the B1 property has a reserve price of $13.7 million, which works out to $498 psf per plot ratio (psf ppr) based on its proposed gross floor area (GFA) of 27,478 sq ft.
OrangeTee & Tie will also launch an expression of interest (EOI) exercise soon for an adjacent freehold plot at 466 and 468 Tagore Industrial Avenue intended for a detached landed factory.
The 24,970 sq ft site is selling for at least $26 million, which translates to $520 psf ppr based on its 49,940 sq ft GFA.
Would-be bidders can choose to buy one or both properties for a combined minimum price of $39.7 million, which works out to $512 psf ppr based on the total GFA of 77,418 sq ft.
The EOI exercise for 466 & 468 Tagore Industrial Avenue will start this month, while the tender for the other property will close on 2 May, noted OrangeTee & Tie.
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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