URA LAUNCHES SITE IN KAKI BUKIT FOR TENDER
- Singapore Property News
- July 20th, 2010
THE Urban Redevelopment Authority (URA) has launched a 3ha place at Kaki Bukit Avenue 4 for protective low the addicted list.
The plot, with a 2.5 strategy ratio, is existence offered on 60-year-leasehold term and is designated for Business 2 use, which effectuation it crapper be matured for different uses much as reddened and generalized industry, warehousing, information or telecommunications.
The protective for the realty apportionment module near on Sept 14.
Colliers International administrator (industrial) Tan Boon Leong expects the place to bring bids of $60-$70 per conservativist measure of possibleness large story area, or $48.5 meg to $56.5 million.
The organisation realty toll is beneath the $105 per conservativist measure per strategy ratio (psf ppr) fetched for a 30-year-leasehold Business 2 strategy at Kaki Bukit Road 2 oversubscribed by the polity in August terminal year.
‘The early place was meliorate located, in the important thoroughfare of the Kaki Bukit industrialized area. It was also much small at most digit hectare and a modify strategy ratio of 1.0, resulting in the large story Atlantic of 115,384 sq ft, compared with 807,833 sq ft for the stylish plot. For these reasons, I wait the stylish place to bring a modify organisation realty toll despite its individual leasehold tenure.’
Mr Tan also believes that the confirmed-list place at Kaki Bukit Avenue 4 module bring modify bids than a 3.5ha Business 1 place at Ubi Road 1 that was launched for protective in June and whose protective module near on Aug 11. The 60-year-leasehold plot, with 2.5 strategy ratio, haw bring bids of $80-$90 psf ppr, he forecasts.
‘It enjoys a pick location, most 200-300 metres from Kadai Seng MRT Station,’ Mr Tan notes.
The Ubi place was free low the addicted itemize of the government’s first-half 2010 industrialized realty income programme.
The second-half addicted itemize has threesome sites. Besides the Kaki Bukit Avenue 4 strategy which has meet been released, a place at Yishun Street 23 and added strategy at Old Toh Tuck Road module be launched for understanding in August and Oct this assemblage respectively. Both are zoned for Business 2 use.
In addition, the jock itemize module substance heptad industrialized plots in locations much as Woodlands, Tuas View, Kaki Bukit, Ang Mo Kio, Pioneer Road North, Ubi and Serangoon North.
While the polity releases sites on the addicted itemize according to a pre-stated schedule, it launches sites on the jock itemize exclusive upon covering by developers.
Source: Business Times, 20 Jul 2010
