We are from the Consultancy & Research Department of the Singapore office of the Knight Frank Newmark group. 

We have been invited by a large organisation in Singapore (the "Master Client") to tender for an International Industrial Land Price Study, which is to be conducted for three consecutive years from 2009 to 2011.  The Consultant shall prepare an annual report for each of these three years.  As the scope of which includes locations and industrial estates outside Singapore (as selected by the Master Client), we would like to seek your firm's participation in this study.

The scope of work for which we need your contribution is described below.  The country, locations and industrial estates for your firm to cover are as follows:

Country: Puerto Rico
Location: Barceloneta/Manti/Vega Baja
Industries (Economic Activities): Biomedical Sciences (Biopharma, Pharma Primary & Secondary Manufacturing)
Estate: Barceloneta/Manti/Vega Baja

In essence, you will be required to carry out the following (the Specification comprises further elaboration):

(i)  General economic overview, trends and developments in the industrial property sector, including key government policies affecting investments and industrial activity that have or could potentially have an impact on industrial property prices.  Market demand and supply situations, price and rental trends of industrial property and market yield of industrial land with respect to 60-year land prices should also be included.

(ii)  A background brief giving an overview of each industrial estate.  Government policies, rules and regulations and major events in the respective countries and industrial estates, which have an impact on industrial land prices, should be presented in the annual reports.

(iii)  Identify and compile transacted industrial land prices for each of the industrial estates identified above

(iv)  Assess the fair market value of each industrial estate identified above based on that of a modal site of land area of five hectares and 60-year leasehold tenure. All land-related costs are to be taken into consideration.  Where no transaction is available, the fair market value of the estate shall be determined through valuation.

(v)  Carry out fresh, in-depth analysis of the data, especially explanation for changes in composition/land prices of the estates.

(vi)  Arrange and make site visits for the Master Client's designated representatives to the selected industrial estates and such number of companies as may constitute a reasonable representation of the companies operating within the estates.  The Consultant shall do sufficient research before the trip to ensure that the sites visited are suitable for benchmarking.  E.g. the industrial estates should have: (a) available land for sale; (b) at least five tenants in the estate; and (c) regular sale of land in the estate.  The Consultant shall also arrange for meetings with the developers of the selected industrial estates, be they government agencies or private developers, and the companies operating within the selected industrial estates during the site visits.

For the site in Puerto Rico, no site visit is required. Further details on project specifications will be provided.

Kindly let us know if your firm will be able to assist us in the aforesaid study. 

We look forward to hearing from you.

Thank you.





 

 


