A 99-year leasehold site at North Buona Vista Drive was launched for sale by JTC Corp through a public tender.
The 1.8-hectare land plot is located at the intersection of Commonwealth Avenue West and North Buona Vista Road.
The land site has a potential yield of around 112,000 sq m, out of which 2,000 sq m are reserved for retail use.
JTC said the land site was triggered for release in a public tender after a developer committed to bid a minimum price of S$320 million.
The site’s tender will close at 12 noon on July 27.
According to JTC, the site will be developed into a high-rise commercial building and will provide office space outside the central business district to help the research institutes at One-North.
Several upcoming projects at the One-North hub include a Civic, Cultural and Retail Complex, residential and retail projects and an integrated hotel.