The Urban Redevelopment Authority has said it will put the industrial site at Playfair Road up for tender in about two weeks.
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This comes after a developer said it would bid a minimum of S$12 million for the site. The 0.86 hectare site is located on the junction of Henderson, Burn, and Playfair Road.
It has a maximum permitted gross plot ratio of 2.5 with a lease period of 60 years.
The site is zoned for Business 1 development, and can be used for a range of clean and light industrial uses and warehouse.
The land parcel was made available for sale under the Reserve List of the Government Land Sales programme.
Sites under the Reserve List will only be placed out for tender if there is a minimum bid that is acceptable.
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