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A freehold site (pictured) zoned for Business-1 development along Aljunied Road is up for sale by expression of interest (EOI) with an asking price of S$11 million.
The site at 81, 83 and 85 Aljunied Road, which is currently occupied by three adjoining residential terrace houses with a total land area of 6,047 sq ft, has a plot ratio of 2.5. This means the asking price works out to about S$760 per sq ft per plot ratio.
According to Cushman & Wakefield, the appointed marketing agency, the site may be redeveloped into a 7-storey light industrial building with a maximum gross floor area of up to 15,118 sq ft, subject to approval. The site is within the light industrial developments cluster of Sims Drive/Sim Avenue and near Aljunied MRT Station and Paya Lebar Interchange.
“This sale represents an opportunity for corporate industrial end-user to develop its own headquarters with naming right. Alternatively, developers can also redevelop the property into a multiple-user light industrial building with strata-titled industrial units—subject to planning approval and a minimum unit size of 150 sq m,” said Cushman & Wakefield executive director of Capital Markets, Shaun Poh.
“As the property is a private land, it is not subject to rules imposed by JTC or HDB,” he added,
The EOI exercise will close on 26 October.
Image source: Cushman & Wakefield.
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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