An industrial site in Yishun has been put up for sale by public tender.
The land parcel was made available for sale through the Reserve List system in May 2007. Under the system, a site would be released for sale only if a bid with an acceptable minimum price is received.
Last month, the Urban Redevelopment Authority (URA) announced that it had received an application from a developer to put up the land parcel for tender.
The developer has committed to bid at least S$11.5 million for the land parcel in the public tender.
Located at Yishun Avenue 6, the land parcel has a site area of some 1.42 hectares and a maximum gross plot ratio of 2.5. It can be developed for a variety of uses under “Business 1″ zoning.
The site will have a lease period of 60 years.
Source: Channel News Asia, 8 Mar 2010