SRT opens bids for development of land along Bang Sue-Khlong Ton line
The State Railway of Thailand (SRT) is seeking bidders for the development of its 5.88-rai plot of land along the Bang Sue-Khlong Ton railway line in Bangkok, an SRT source said.
The source added that interested parties have until April 24 to submit their bids and that SRT will announce the shortlist by May 24 and the final choice on May 27. The source said SRT wants the 9,400-square-metre plot to be developed for commercial use and is coordinating with relevant government agencies to amend city-planning regulations accordingly.
The source said SRT decided to go ahead with seeking a developer even though the regulations have not been amended. To prevent conflicts in the future, SRT has added a condition to the terms of reference, saying that if the regulations are not amended within five years, the bid will be revoked.
Meanwhile, once the amendment is announced in the Royal Gazette, the bid winner will be required to submit a blueprint of the development plan to SRT within a year.
The source said SRT also plans to collect 172.24 baht per square metre per year as fees for the use of the plot as commercial land. This fee will be bumped up by 5 per cent every year, and the land can be leased for a maximum of 30 years a time.
The developer will also be charged for renting the land to construct buildings in the second, third and fourth years. SRT expects to earn 404,764 baht, Bt809,528 baht and Bt1.214 million baht in the second, third and fourth years.