Commercial & Industrial Property News Update

Singapore - Two Industrial Properties Go On The Market

September 13, 2012

The buildings - located at Jalan Kilang Barat and Gambas Crescent - have asking prices of around SGD 750 psf and SGD 350 psf respectively.

Two leasehold industrial buildings have entered the market, one with 48 years left on its lease and the other to be released with a 60-year lease.

The first of the two properties is a building sited at Jalan Kilang Barat, off Jalan Bukit Merah. It sits on a site spanning 11,462 sq ft, and had gross floor area of about 28,560 sq ft. Of the gross, approximately 26,700 sq ft is nettable.

The owners of the building are expected to ask for between SGD 20 million and SGD 22 million for the sale.

This works out to SGD 700 psf to SGD 770 psf of gross floor area and about SGD 750 psf to SGD 824 psf of the estimated lettable area.

Completed in 2010, the property has about 48 years left on its lease.

The second property is an upcoming light industrial building slated to be completed in 2015.

Located at 7 Gambas Crescent, the project is a 60-year leasehold strata-titled industrial development. It offers column-free units ranging in size from approximately 1,600 sq ft to 2,700 sq ft and rises to nine stories high.

Named Ark@Gambas, the property comprises 293 part-ramp-up and part-flatted factory units, with full-glass frontage and floor-to-ceiling height of up to seven metres for units on the ground floor.

The units are expected to sell at prices starting from SGD 350 psf.

Tags: Commercial real estate, Industrial properties, Warehouse for sale

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