Commercial & Industrial Property News Update

Singapore - Public Tenders Launched For Three JTC Industrial Plots


November 2, 2012

Three industrial plots - one in Woodlands and two in Tuas - have been launched for sale by JTC Corporation via public tender.




 

Investors are invited to bid for three leasehold industrial plots released by JTC Corporation for sale through public tenders. Two of the plots are located in Tuas while the third is in Woodlands.

The Woodlands site is a 30-year leasehold plot located at Woodlands Ave 10. Tan Boon Leong, Industrial Director at Colliers International, said that the site is expected to fetch between SGD 75 psf ppr and SGD 100 psf ppr. “It’s quite small, so I think the overall cost should be manageable,” said Tan.

He noted that the price of the industrial space on the plot could rise to between SGD 280 psf to SGD 290 psf should the buyer decide to strata-title and sell the units individually.

Head of Research at SLP International Nicholas Mak entered a slightly lower estimate for the selling price of the plot – between SGD 55 psf ppr and SGD 75 psf ppr, or between SGD 15.8 million and SGD 21.6 million. Interest in the Woodlands Ave 10 plot is likely to be moderate, added Mak, as the site could be strata-titled, with prospective buyers put off by its size.

The other two plots offered for sale are Plots 8 and 18 at Tuas South Street 8. They have an area of 32,674.9 sq ft and 48,727.1 sq ft respectively, with both carrying a gross plot ratio of 1.0.

To be sold under short leasehold terms of 22 years, the two plots would likely fetch between SGD 50 psf ppr and SGD 70 psf ppr, noted Colliers International.

Meanwhile, SLP expects Plot 18 to be the more popular plot, attracting between 11 to 18 bids. For Plot 8, between four to eight bids are expected.

Top bids for Plot 8 could range from SGD 2.1 million to SGD 2.5 million, while Plot 18 top bids are expected to come in at between SGD 3.1 million to SGD 3.8 million.

Tags: Business space, Factory for rent, Warehouse for sale

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