The Urban Redevelopment Authority (URA) launched the industrial site at Yishun Avenue 6 (Parcel 8) for sale by public tender today.

The land parcel was made available for sale through the Reserve List system on 27 November 2007. On 26 February 2010, URA announced that it had received an application from a developer to put up the land parcel for tender and would launch the site for public tender in about two weeks’ time. The developer has committed to bid at least $11.5 million for the land parcel in the public tender.

The land parcel has a site area of about 1.43 ha and a maximum gross plot ratio of 2.5. It can be developed for a variety of uses under “Business 1” zoning. The site will have a lease period of 60 years.

A tender period of 4 weeks will be allowed for the site. The tender will close at on 13 April 2010.