Reserve list industrial site at Tuas Bay Close put up for sale

INDUSTRIAL landlord JTC has accepted an application to put up an industrial site at Tuas Bay Close for sale by public tender.

The land parcel was put on the reserve list from July 1, 2017. Developers that are interested in a site on the reserve list must submit a minimum acceptable bid to trigger a public tender for the site.

JTC said on Thursday that it had received an application with a committed bid price of not less than S$17.5 million, triggering the release of the site for sale.

Under the reserve list system, the identity of the applicant will not be released.

The 2.72 hectare land parcel has a 30-year tenure and a maximum permissible gross plot ratio of 1.7.

The public tender for the land parcel is scheduled for Jan 30 with a tender period of six weeks.