Mar 28, 2011 - CommercialGuru.com.sg
JTC Corporation has put up a site in phase three of Fusionopolis for sale through public tender.
With a lease term of 60 years, the 67,300 sq ft plot at Fusionopolis Link was made available for sale under the government’s confirmed list of the industrial land sales programme.
The site has a gross floor area (GFA) of up to 269,200 sq ft. However, JTC requires the winning developer to allocate 40 percent of the site’s potential GFA for office use.
According to JTC, Fusionopolis is a major development within its one-north research centre and supports the media and infocomm technology industries, as well as research and development activities in the engineering and physical sciences sectors.
“The launch of Fusionopolis Phase 3 is set to further enhance the growth of the research and development in these sectors, strengthening JTC’s efforts in promoting private sector partnership,” said JTC.
Ong Kah Seng, Senior Manager for Asia-Pacific Research at Cushman & Wakefield, said the site will likely receive warm interest from developers and an encouraging top bid of S$250 to S$300 psf.
“The success of the initial phase of Fusionopolis can also serve as a tried and tested product, and demand for high value-added space in strategic locations can therefore be expected to be encouraging going forward,” added Mr. Ong.
The tender for the site will close on 20 May 2011.