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A Loyang industrial site with a remaining tenure of 38 years have been put up for sale by expression of interest, exclusive marketing agent JLL announced Thursday (16 October).
Located at 1 Loyang Street, the site consists of a two-storey building that comes with production and warehouse areas and offers a total gross floor area of 29,288 sq ft. The 41,057 sq ft site is zoned for Business 2 uses, and has a gross plot ratio of 2.5.
Given the length of its remaining lease term, JLL expects the site receive strong interest.
Nicholas Ng, Local Director of Investments at JLL, said: “With new leases of this size being offered in the market at shorter tenures, the long lease of this site will garner strong interest from end users who are looking for a place for their operation and future expansion as there is still an untapped gross floor area of 73,355 sq ft,” adding that with its proximity to Changi Airport, the site would be a good fit for logistics companies looking to establish a base in the Loyang area.
According to JLL, EOI exercise for the site will close on 27 November.
Image: 1 Loyang Street site (Source: JLL)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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