Industrial complex Citimac up for collective sale by public tender

INDUSTRIAL complex Citimac in Tai Seng has been put up for collective sale via a public tender exercise, and the owner is seeking a minimum price of S$430 million.

This freehold redevelopment site has a land area of about 1.3 hectares, and is zoned "Business 1-White" with a gross plot ratio of 3.5. The "white" component offers some flexibility to the range of uses of the development.

Edmund Tie & Company (SEA), the marketing agent, said the plot can potentially yield a maximum gross floor area of 489,262 square feet, of which at least 349,473 square feet has to be for Business 1 use, with the balance 139,789 square feet for "white" use.

Citimac is located in the industrial and commercial hub of Tai Seng which is also home to companies such as BreadTalk Group, Sakae Holdings, Charles & Keith, Tee Yih Jia Group, Malaysia Dairy Industries and Lian Beng Group.

The tender exercise for the site will close on July 21, 2017, at noon.