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SG URA launches sale for Woodlands Regional Centre site

Property Here - Wednesday, December 18, 2013

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A land parcel in Woodlands Regional Centre has been launched for sale by public tender by the Urban Redevelopment Authority (URA) yesterday.

This is the first sale site in the Woodlands Regional Centre since its detailed plans were unveiled as part of the 2013 Draft Master Plan.

Situated within Woodlands Central, the land parcel (pictured) at Woodlands Square is within proximity to the Woodlands MRT Station, which will serve as an interchange between the North-South Line and future Thomson Line, the statutory board said.

The site is also “well-positioned to anchor the development of the North Coast Innovation Corridor which includes the future Punggol Creative Cluster, the Learning Corridor and the Sembawang Shipyard area which will be re-developed,” said Desmond Sim, Associate Director, CBRE Research.

In a bid to develop Woodlands Regional Centre into a major employment centre, at least 90 percent or 629,602 sq ft of the total GFA of the proposed development on the sale site should be set aside for office use, while the remaining GFA can be allocated for complementary uses such as retail, childcare centre as well as food and beverage uses.

A healthy number of bids are expected for the site at between five and eight bids, considering that it may be strata-subdivided, said Lim.

“The quantum size of this bid may attract blue chip developers as well as joint venture partners. CBRE expects the bid price to be from S$1,000 psf per plot ratio based on current market conditions, barring unforeseen circumstances,” he added.

The tender for the site will close on 8 April 2014. Selection of the successful tenderer will be based on the tendered land price only.