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SINGAPORE: An industrial site at Woodlands Avenue 12 has been put up for sale by public tender.
The Urban Redevelopment Authority (URA) said a developer has committed to bid at least S$25 million for the land parcel.
The land parcel, which has a lease period of 60 years, has a site area of about 3.2 hectares and a maximum gross plot ratio of 2.5. It can be developed for a variety of uses under "Business 1" zoning.
The tender will close in four weeks on April 21.
The site had previously been placed on the reserve list in December 2009, where it would have been released for sale only if a bid with an acceptable price is received.
The reserve list system was enhanced earlier on March 8, when the government said it would release sites on the list when there is sufficient market interest.
A site is deemed to have received sufficient interest if more than one unrelated party submit minimum prices that are close to the government's reserve price for the site, within a reasonable period.
- CNA/sc
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