Woodlands Avenue 12 Land Parcel 3

Singapore Property News

Woodlands Avenue 12 land parcel 3, An industrial site was sold as a business 1 zoning or those involving light and clean industries. It was first made available on March 24, 2011 through the Reserve List system, and the Urban Redevelopment Authority (URA) received an application from an interested developer on July 29, 2011, with a committed price of at least $56.15 million.

This land parcel is an ideal industrial site as it is surrounded by other industrial areas, allowing it to be in an established industrial area. There are also several residential sites nearby, allowing it to have a steady pool of labor, and it is easily accessible through the Admiralty MRT Station, which is only a few minutes away. Consumers also have the option to pass through the Seletar Expressway or through roads like Gambas Avenue. This site is beside two other industrial land parcels, land parcel 1 which was sold in April 2010, and land parcel 2 which was sold in June 2011.

The Woodlands Avenue 12 parcel 3 has a site area of 1.9 hectares or 18,800 square meters, and it was allowed to be leased for a period of 60 years. This was launched for sale through public tender on August 15, 2011 until September 13 of the same year, and it has a maximum permissible gross plot ratio of 2.5. It received four bids, and on September 19, 2011, OKH Development Pte Ltd was announced as the successful tenderer, with a bid of $71,838,936 or $1,528.49 per square meter of gross plot ratio. The second highest bid came from Ho Lee Properties Pte Ltd, with $67,285,800 or $1,431.61 per square meter.

The maximum building height for the industrial site is 61 meters above mean sea level, and the project should be completed 60 months after the date of acceptance of the successful tenderer. The land parcel at Woodlands Avenue 12 also has an easy access to Malaysia as it is only a few minutes away from Woodlands Causeway.

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Posted by: Alex Leong on