The 1.4-hectare site is zoned for Business 1 use and has a 2.5 plot ratio (ratio of maximum gross floor area to land area). It is being sold on 30-year leasehold tenure.
Grow-Tech's bid is 21 per cent above the next highest offer of S$84.45 psf ppr from First Shine Management Services Pte Ltd.
The tender conducted by the Urban Redevelopment Authority drew four bids in all.
At an October tender, Grow-Tech clinched Parcels 1 and 2 along the same road. It paid S$137.90 psf ppr and S$127.19 psf ppr respectively for the two plots.
Source from Business Times