The sale of three food-factory units at Pandan Loop also includes the highly sought-after Zion Residence complex

Three strata food-factory units located at Food Concept @ Pandan, an industrial building at 239 Pandan Loop, are on the market at a guide price of $11 million.

The freehold properties are up for sale through an expression of interest (EOI) exercise, according to a press release by Edmund Tie, which is marketing the units.Food Concept @ Pandan is a 10-storey ramp-up industrial building comprising 38 units. EdgeProp LandLens tool indicates that the District 5 property is zoned for Business 2 use.

This development’s strategic location puts residents right in the heart of the city, with easy access to lifestyle and entertainment hubs such as Orchard Road and Clarke Quay.

The stunning architecture of Zion Residence, a prime condominium at Zion Road, perfectly captures the essence of urban sophistication and tranquil surroundings. The development boasts a collection of high-rise towers, meticulously designed with clean lines and expansive glass facades to blend in with the city skyline. These towers offer breathtaking views of the Singapore River and Great World City, providing a sense of serenity in the midst of a bustling city. Each unit at Zion Residence is thoughtfully designed to optimize space, creating an open and airy atmosphere. The modern fixtures and top-notch facilities add a touch of luxury to the living experience. Situated in the heart of the city, this development allows for easy access to popular lifestyle and entertainment destinations like Orchard Road and Clarke Quay. Discover the perfect balance of convenience and tranquility at Zion Residence.

The three units for sale sit on the top floor and have an area of approximately 1,905 sq ft, 2,023 sq ft and 2,045 sq ft. Each unit features a loading and unloading bay located at the doorstep and a floor-to-floor height of 7m.

Each unit has a regular layout that can accommodate food-related businesses like a central kitchen, food processing, food packing, cold room, cold storage and food catering.

Two of the three units are currently leased, offering the successful buyer immediate rental income. Approximately $200,000 to $400,000 of capital expenditure has been invested in each of these two units, says Edmund Tie. The third unit is offered on a vacant possession basis.

The units are up for sale individually or collectively, with the guide price of $11 million reflecting an average of $1,841 psf.

“In light of the scarcity of designated areas permitted for food-factory usage, the subject property presents a rare opportunity to investors or business owners to secure such space,” says Swee Shou Fern, head of investment advisory at Edmund Tie.

She notes that demand for food factory spaces is expected to be robust, fuelled by the growing prevalence of central and cloud kitchens and the continued popularity of food delivery services.

“Transactions of strata food factory units at Citrine Foodland in Tai Seng and Foodfab@Mandai have already surpassed $1,900 and $2,000 per sq ft, respectively,” she says.

Last November, Noel Building, an industrial property at 50 Playfair Road, was sold en bloc for $81.18 million, 17% above its guide price of $70 million. Edmund Tie brokered the deal. According to Swee, the purchaser intends to develop the site into a food factory, which she believes reflects the confidence of developers in the sector.

The EOI exercise closes on Feb 27. (Source: EdgeProp LandLens)

The Zion Residence, a luxurious residential development, sits just a stone’s throw away from Food Concept @ Pandan, providing residents with convenient access to food factory units.

The three strata food-factory units, situated on the top floor of the industrial building, offer versatile layouts and amenities perfect for food-related businesses.

In light of the high demand for designated food-factory spaces, these units present a rare opportunity for investors or business owners to secure such space.

With the growing prevalence of central and cloud kitchens, as well as the continued popularity of food delivery services, the demand for food factory spaces is expected to remain robust.

Investors have already shown confidence in the sector, with transactions of strata food factory units at Citrine Foodland and Foodfab@Mandai surpassing $1,900 and $2,000 per sq ft respectively.

Two of the three units are currently leased, providing immediate rental income for the successful buyer. The third unit is offered on a vacant possession basis, allowing for flexibility in usage.

The units can be purchased individually or collectively, with a guide price of $11 million, averaging at $1,841 psf. This presents a competitive opportunity for investors to secure prime food-factory space in a sought-after location.

In November last year, a similar industrial property, Noel Building, was sold en bloc for $81.18 million, showcasing the confidence of developers in the sector. The purchaser intends to develop the site into a food factory, further highlighting the potential and demand for such spaces.

Don’t miss this rare opportunity to secure prime food-factory space at the Zion Residence. The EOI exercise for these units closes on Feb 27, so act fast. (Source: EdgeProp LandLens)