Bookmark & Share
A food factory at 33 Chin Bee Crescent is up for sale by expression of interest (EOI) for a price in the region of S$14 million to S$15 million.
According to Cushman & Wakefield, its marketing agent, the property consists of a 2-storey purpose-built detached food factory with a land area of approximately 100,279 sq ft and an existing floor area of about 70,663 sq ft. Based on the 2014 Master Plan, the site is zoned “Business 2” at plot ratio of 1.4. This translates into an allowable gross floor area of about 140,390 sq ft.
The development comprises mainly of warehouse-cum-production areas, two existing cold rooms, ancillary office space and ample car parking space. It has a remaining 23-year lease tenure from JTC.
Shaun Poh, executive director of Capital Markets at Cushman & Wakefield said the food factory can benefit from the increase in popularity of food business and delivery services. “[As food establishments and food delivery services] fuelled the volume of food orders, there is surely demand for such space for food processing, cold room facilities and food distribution centre in approved food zone locality”.
The property consultancy also added that business can tap on to developments nearby the property which is located in proximity to Boon Lay MRT, Jurong Point shopping centre, Taman Jurong Food Centre and surrounding residential areas.
“Furthermore, the transformation of Jurong Lake District and Jurong Gateway into a vibrant mixed of residential homes, recreational and leisure activities and business hub, coupled with the new Tengah housing estate that will potentially be home to 55,000 households, such industrial land will be sought after to cater to these growing food businesses nearby,” Poh added.
The EOI exercise will close on 30 November.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
Related Articles:
Hi-tech, business park space rents down in Q3
Industrial prices, rents continue to fall in Q3
Viva Industrial Trust acquires food logistics development for S$87.3mil