URA closes tender for Pioneer Road North industrial site
Dec 10, 2009 - PropertyGuru.com.sg
The Urban Redevelopment Authority (URA) has closed the tender for an industrial site at Pioneer Road North after receiving a total of eight bids. The highest bid came from property developer Kng Realty at $19.4 million.
Sia Kong Wah & Gimp Investment submitted the next highest bid of $18 million.
The top bid from Kng Realty translates to around $48 per sqft.
According to CBRE Research Executive Director Li Hiaw Ho, Kng Realty's bid was more than twice the $20 per sqft application bid.
The bid was also higher compared to Soilbuild Group’s payment of $37 per sqft for a 30-year leasehold industrial site along Pioneer Road.
Mr. Li said that the tender’s healthy response reflects a more positive business sentiment.
The industrial site was up for sale in November on a lease for 30 years. The site was originally included on the Reserve List of the Government Industrial Land Sales Programme.
URA said that it will announce the winning bidder at a later date.
Subscribe to:
Post Comments (Atom)
Pre-development Land Investing
In business for over 30 years, success in providing real estate investment opportunities to clients around the world is a simple, yet effective separation of roles and responsibilites. The four pillars of strength guide the land from the research and acquisition, through to the exit, including the distribution of proceeds to our clients ......
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
Posts
No comments:
Post a Comment