Updated from : The Business Times, 28 Oct 2020
THE Urban Redevelopment Authority (URA) on Tuesday launched a residential with commercial site for tender, and JTC launched two industrial land plots – one via tender and another for application.
The URA put up the site on Northumberland Road, near Farrer Park, for sale via public tender. The plot is zoned residential with commercial on the first storey and spans 8,732.9 square metres (sq m).
Potentially yielding about 405 residential units, the plot is on the Confirmed List of the government land sales (GLS) programme for the second half of 2020, the URA said.
The maximum gross floor area is 36,679 sq m, and the maximum building height, 83m. The lease period for the plot is 99 years.
The site is at the junction of Racecourse Road and Gloucester Road, diagonally across from the Farrer Park MRT station and the Farrer Park Hospital. It is also near Mustafa Centre.
Huttons Asia research director Lee Sze Teck said the plot could attract up to seven bidders, and bids between S$900 and S$950 per square foot per plot ratio.
“With the property market turning the corner and the number of unsold units dwindling, developers will be keen to replenish their land bank,” he said.
To give developers more time to make their assessment amid the ongoing Covid-19 situation, the URA said it will offer a longer tender period of six months. The tender for the site will close at noon on April 27, 2021.
Separately, JTC on Tuesday said it has launched two industrial sites under the industrial government land sales (IGLS) programme for the second half of this year.
The launch is part of the government’s efforts to offer more choices for industrial development, JTC said.
Of the two sites, one is along Gambas Way (Plot 3), near Sembawang Avenue, which has been put up for tender; the other is a site on Tampines North Drive 5 (Plot 11a), which is available for application.
Both plots have a 20-year tenure and are zoned Business 2 (B2) for heavy industrial use under the URA’s Master Plan 2019.
The Gambas Way site is the second of three Confirmed List sites on the IGLS programme for the second half of the year. It measures 0.69 ha, with a gross plot ratio of 2.0.
The tender closes at 11am on Dec 22.
The Tampines North site is the second of three Reserve List sites on the 2020 IGLS programme. It has an area of 0.54 ha and a gross plot ratio of 2.5. Application for this plot will expire at 11am on Dec 31.
Confirmed list sites are launched according to schedule regardless of demand; Reserve List sites are put up for tender only when a developer makes an offer acceptable to the government.