Joo Seng Road Industrial Property Sale 34 Mil
Article rewriter:
A commercial property located at 132 Joo Seng Road in the Tai Seng area is currently being offered for sale through private treaty. CBRE, the exclusive marketing agent, has set an indicative guide price of $34 million for this property, which comprises a one-storey flatted factory block and an eight-storey light industrial block.
The land size of the property is 72,395 sq ft and it has a remaining tenure of 23 years. It is zoned for Business 1 use, with a plot ratio of 2.5. The total gross floor area of the factory and light industrial blocks is approximately 161,466 sq ft. According to CBRE’s head of occupier and leasing, industrial and logistics services, Graema Bolin, the new owner has the potential to utilise the underutilised plot ratio, subject to relevant authorities’ approval. With a plot ratio of 2.5, the built-up area of the development can be expanded to 180,988 sq ft.
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The light industrial block has a regular floor layout and a ceiling height of approximately 4m. Bolin points out that this makes it suitable for businesses looking for visibility for their signage and a corporate headquarters. The block also comes with two cargo lifts and a total of 50 parking lots.
On the other hand, the factory block boasts a maximum ceiling height of 9m, making it suitable for storage or light production purposes. The property also has a high-tension power supply of 22 kilovolts and transformers capable of handling a concentrated capacity of up to 5 megavolt-amperes, catering to high-power industries.
Bolin notes that the prime location of the property, together with its impressive facilities, makes it an ideal choice for businesses looking to establish or expand their presence in a key industrial hub. The property is conveniently accessible via major expressways such as the Pan Island Expressway and Central Expressway. Interested parties can also check out other industrial real estate listings for further options.
In other news, a freehold industrial land at Kim Chuan Lane is currently on the market for $43 million. Additionally, Metro Holdings and Boustead Projects have jointly acquired another industrial property in Tai Seng for $98.8 million. Meanwhile, the strata food factory units at Apex FoodWorks have been selling fast, with 63% of the units already taken up.