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HDB to relocate 399 industrial units from Eunos

Posted by Property Launch Invest on Thursday, 27 March 2014 in Property News

HDB will be relocating another batch of units in the Eunos Industrial Estate under its Industrial Redevelopment Programme (IRP) to facilitate future redevelopment of the estate.

Under this 14th batch, 399 units will be relocated and affected tenants will be offered replacement units in a new high-rise Industrial Complex in Ang Mo Kio Industrial Park 3. The complex is scheduled to be completed in mid-2018.

The units involved in this relocation exercise are located in 26 blocks. The remaining units will be relocated in subsequent IRP batches.

Since the IRP was launched in 1997, HDB has announced 13 IRP batches and relocated about 3,000 industrial units islandwide to new high-rise industrial complexes with better facilities.

The $5 billion programme was introduced to recycle, redevelop and intensify the existing HDB-managed industrial land through multi-storey industrial buildings, and to relocate pollutive trades.

Under the URA Master Plan 2008, the Eunos Industrial Estate is mainly zoned for non-industrial uses. Part of the vacated land has since been redeveloped for public housing.

Eligible tenants will receive an ex-gratia payment of $48,000 per relocated unit as a goodwill payment to defray relocation costs. They will also be offered between two to six months rent-free fitting-up period for replacement units.

Rental for replacement units will be at the market rate as at the date of selection or as at the date of commencement of the tenancy, whichever is lower.

Generally, tenants with 100 per cent Singaporean ownership and with units allocated before Jan 1, 1998, or units assigned before June 1, 1999, are eligible, subject to conditions.

Source: Business Times 26th March 2014

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PROPERTY LAUNCHES & INVESTMENTS

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HDB to relocate 399 industrial units from Eunos

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