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An industrial asset at Ang Mo Kio Industrial Park 2 has been put up for sale by expression of interest (EOI), marketing agent JLL said Wednesday (13 May).
Located at 38 Ang Mo Kio Industrial Park 2, the property consists of three buildings and one annex with production and warehousing areas, and has offer a gross floor area (GFA) of approximately 341,539 sq ft. It sits on a 177,604 sq ft site zoned for Business-2 uses and has a remaining lease tenure of about 26 years.
According to JLL, the asset is expected to receive strong response from the market given its central location and the limited large centralised Business 2 industrial space available in the market.
“The potential for this asset to be refurbished presents an excellent opportunity for SMEs or larger organisations looking to expand their business or headquarters as the current owner is relocating. It also offers an excellent opportunity for MNCs looking for expansion space or wishing to establish a base in Singapore,” said Nicholas Ng, Local Director of Investments at JLL.
Ng said the vendors are looking at a price no more than S$55 million, which translates to over S$160 per sq ft based on the GFA.
The EOI exercise will close on Thursday, 25 June.
Image: 38 Ang Mo Kio Industrial Park 2 (Source: JLL)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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