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JTC launches a B2 site at Tuas South

By Tan Chee Yuen

/ The Edge Property |

October 25, 2016 6:00 PM SGT

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JTC launched a confirmed-list site at Tuas South Link 3 (plot 22) for tender under the second half 2016 Industrial Government Land Sales (IGLS) programme today. The 62,381 sq ft parcel could yield a maximum GFA of 87,334 sq ft.

Nicholas Mak, head of research and consultancy at SLP International Property Consultants, expects the confirmed-list site to attract 3 to 5 bids, with the estimated bids ranging from $2.88 million to $3.5 million ($33 psf ppr to $40 psf ppr).

Meanwhile, JTC had also made a site at Tuas South Link 3 (plot 15) available for application from October 25 through the reserve list system under the second half 2016 IGLS programme. The 53,761 sq ft parcel could yield a maximum GFA of 75,266 sq ft.

SLP’s Mak notes that the reserved-list site is unlikely to be triggered for tender in the next six to 12 months due to the large supply of industrial space in Tuas South. If this site is sold on the open market by tender today, the land price could range from $2.26 million to $2.64 million ($30 to $35 psf ppr), he estimates.

Both sites have 20-year tenures and are zoned for B2 development.

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