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A 9,716.2 sq m reserve list site at Braddell Road is poised to be launched for sale via public tender, after an applicant committed to offer a minimum bid of about $18.3 million, JTC announced on Tuesday (8 May).
Intended for Business 1 use, the land parcel has a permissible gross plot ratio of up to 2.5 and a leasehold tenure of 30 years.
It was made available for application last December under the Industrial Government Land Sales programme for the second half of 2017.
A reserve list site will only be triggered for sale if a bidder commits to pay an acceptable amount to the government, or when more than one unrelated party submit minimum prices near the reserve price within a reasonable period.
The public tender for the Braddell Road site will launch on 30 May and close after six weeks.
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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