The Urban Redevelopment Authority (URA) yesterday launched a residential with commercial site for tender, while JTC Corporation launched two industrial land plots - one via tender and the other for application.
URA put up the Northumberland Road site near Farrer Park for sale via public tender. The 99-year leasehold plot is zoned residential with commercial on the first storey and spans 8,733 sq m.
The site could yield about 405 residential units and falls under the confirmed list of the second half of this year's Government Land Sales programme, URA said.
The maximum gross floor area is 36,679 sq m, while the maximum building height is 83m.
The parcel is located at the junction of Race Course Road and Gloucester Road, diagonally across from Farrer Park MRT Station and Farrer Park Hospital. It is also near Mustafa Centre.
To provide developers with additional time to make their assessments, in view of the Covid-19 situation, URA said it will offer a longer tender period of six months. The tender for the site will close at noon on April 27 next year.
Huttons Asia director of research Lee Sze Teck said the site may attract up to seven bidders, with bids of between $900 and $950 per sq ft per plot ratio, given its attractive city fringe location, next to Farrer Park MRT Station, and with amenities in the area, including shopping malls.
"With the property market turning the corner and unsold units dwindling, developers will be keen to replenish their land bank," he added.
Separately, JTC yesterday said it has launched two industrial sites under the second half of the 2020 Industrial Government Land Sales (IGLS) programme. The launch is part of the Government's efforts to offer more choices for industrial development, JTC said.
One site, at Gambas Way (Plot 3) near Sembawang Avenue, is available for tender, while the other - at Tampines North Drive 5 (Plot 11a) - 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 for the second half of this year's IGLS programme. It has an area of 0.69ha and a gross plot ratio of 2.0. The tender will close at 11am on Dec 22.
The Tampines North site is the second of three reserve list sites under the 2020 IGLS programme. It has an area of 0.54ha and a gross plot ratio of 2.5. Application for this plot ends at 11am on Dec 31.
Confirmed list sites are launched according to schedule regardless of demand, while a site on the reserve list is put up for tender when a developer makes an offer acceptable to the Government.
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