$27m bid tops Kaki Bukit Road 5 tender

The industrial site attracted eight offers with the highest coming in at $27,303,784 from Hock Lian Seng Holdings Limited.

This translates to a tendered sale price of $1,491.92 per sqm of gross plot ratio for the 13,072.2 sqm plot, said the Urban Redevelopment Authority in its tender closing announcement.

Located at Kaki Bukit Road 5 / Kaki Bukit Avenue 6, the industrial site allows development as a Business 2 area, or one used or intended to be used for industry, warehouse, utilities and telecommunication uses, and selected industrial machinery, shipbuilding and repairing actitivities.

Trans-cab Services Pte Ltd submitted the second-highest bid for the 30-year lease at $26,600,000 while the consortium of Capital Development Pte Ltd and Qinghe Pte Ltd ranked third in the race with a $26,599,999.00 bid.

Five other bidders vied for the industrial site with bids ranging from $22,188,000 (fourth place) to $13,988,800 (eight place), according to URA.