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SG Gambas Crescent industrial sites awarded to highest bidder

Property Here - Thursday, October 24, 2013

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Two industrial sites at Gambas Crescent (pictured) have been awarded to Grow-Tech Properties after the developer submitted top bids for them, revealed the Urban Redevelopment Authority (URA). 

Launched for sale on 29 August, the two plots have a lease of 30 years and are zoned for Business 1 development. 

Parcel 1 has a land area of 12,066.7 sq m, while the larger Parcel 2 measures 13,536.9 sq m. Both have a maximum gross plot ratio of 2.5.     

Grow-Tech Properties submitted a bid of S$44.78 million or S$1,484.32 psm for Parcel 1. As for Parcel 2 it was S$46.33 million, which translates to S$1,369.09 psm.