JTC releases 3 Industrial Sites For Sales By Tender

INDUSTRIAL MARKET

JTC releases 3 industrial sites for sale by tender

JTC Corporation released three industrial sites for tender yesterday, through the confirmed list of the Industrial Government Land Sales Programme.

The sites are a plot at Serangoon North Avenue 5 and two plots at Tuas South Street 8.

The 0.75ha site in Serangoon North has a 2.5 plot ratio (ratio of maximum permissible gross floor area to land area).

It is zoned for Business 1 development, which means it is for light and clean industrial uses that do not impose a nuisance buffer of more than 50m and can therefore be found in selected housing estates such as Bukit Batok and Woodlands. The plot is being sold on 30-year-leasehold tenure.

The two plots of land in Tuas South are zoned for Business 2, which means they may be used for heavy industries that have a much greater impact on the environment, where the users will need to impose nuisance buffers of more than 50m.

Each of the Tuas plots has a tenure of 22 years and eight months, measures 0.3ha and has a 1.0 plot ratio.

"These smaller plots with shorter tenures are targeted at industrialists who need to custom-build their own facilities. This is also in line with the government's efforts to make industrial property more affordable," JTC said.

Strata subdivision is not allowed for the first 10 years following the completion of the project on the Serangoon North site, and for the first five years following the completion of the project on the two Tuas South sites.

Thereafter strata subdivision may be allowed subject to the authorities' approval and with the condition that the minimum strata size shall be 150 square metres.

The tender for all three sites will close on Nov 23 at 11am.

Source: Business Times – 28 September 2012