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1 Gul Street 5, a quality Business 2 zoned industrial building, has been put up for sale by private treaty, with JLL as the exclusive marketing agent.
Seeking offers in the region of S$12 million, oilfield services and products company Halliburton is selling the property as it hopes to optimise its operations by relocating them to its other premises.
With a gross floor area (GFA) of around 75,942 sq ft, the standalone building comprises production, warehouse and office areas, as well as a large open yard space. It is situated on a 102,234 sq ft leasehold site with a balance lease of around 33 years. The property is zoned for Business 2 uses, with a plot ratio of 1.4 under Master Plan 2014.
It is located within the established Gul industrial estate, near the upcoming Gul Circle MRT station. It is also within close proximity to established housing estates and is accessible via the Pan Island Expressway (PIE) and Ayer Rajah Expressway (AYE).
“This property would be a good fit for companies looking to expand within the Gul Industrial Estate,” said Nicholas Ng, Local Director of Capital Markets at JLL.
Currently, the site is built up to a 0.74 plot ratio, but has the potential to be refurbished and redeveloped to increase its plot ratio by an additional 67,187 sq ft of GFA.
“The built-up of the existing warehouse / production areas has an excellent configured area with (a) large floor plate and high ceiling. They are well maintained and will allow an end user to move in easily to optimise the space,” said Ng.
“The potential buyer could also eventually expand on this site and maximise the potential GFA in the near future.”
Cheryl Marie Tay, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories, email cheryl@propertyguru.com.sg
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