JTC launches sale of Reserve List site at Braddell Road

A bidder committed a price of $18.3m.

JTC launched an industrial site at Braddell Road for sale by public tender.

According to an announcement, JTC received an application with a committed bid price of not less than $18.3m. “As the minimum price committed by the applicant is acceptable to the Government, the site will be released for sale by public tender,” the firm said.

Zoned for Business-1 development, the Reserve List site is a 0.97 ha land parcel with a 30-year tenure and a maximum permissible gross plot ratio of 2.5. It has a site area of 9,716.2 sqm.

The public tender for the land parcel is scheduled on 30 May 2018 with a tender period of six weeks.

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