The Urban Redevelopment Authority (URA) has received an application from a developer who has committed to bid not less than $25 million for the land parcel at Woodlands Avenue 12.

This triggered URA's announcement today that the land parcel, which was made available for sale through the Reserve List System last December 8, will be up for public tender.

Under the government's reserve list system, it will put up a reserve list site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of 3 per cent of the bid price, to bid for the site at or above the minimum price which is acceptable to the Government.

URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the land parcel will be about four weeks.

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.

Land parcel at Woodlands Ave 12