0.5ha Tuas industrial site triggered for sale

A 0.5 hectare industrial land parcel at Tuas South Street 7 has been triggered from the reserve list with an application of a committed bid price of not less than $3,527,300.

This translates to about $65.5 per square foot (psf) for the 5,000 square metre site which has a maximum permissible gross plot ratio of 1.0. Plot 44 has a tenure of 20 years and 10 months, and is zoned for Business-2 development.

Ong Kah Seng, director at R'ST Research, said that he expects the site to attract between five and 10 bids, and the top bid to be in the range of $85 to $110 per square foot per plot ratio (psf ppr).