The Urban Redevelopment Authority (URA) launched the industrial site at Woodlands Avenue 12 for sale by public tender today. The land parcel was made available for sale through the Reserve List system on 8 December 2009. On 11 March 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 $25 million for the land parcel in the public tender.

The land parcel has a site area of about 3.2 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 21 April 2010.