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UPDATED: An industrial building in Boon Lay is up for sale by expression of interest (EOI), marketing agent JLL announced Tuesday (16 August).
Zoned for business 2 developments, the property (pictured) on 19 Wan Lee Road consists of a large standalone building comprising warehousing, production, lab, office areas and a yard space for loading and unloading of goods. The building has a gross floor area (GFA) of approximately 22,676 sq ft and sits on a leasehold site of 25,007 sq ft. It has a plot ratio of 2.5.
According to JLL, the property situated within the JTC Food Zone in Wan Lee Road is owned by food manufacturer KH Roberts which had been occupying the facility since the building was rebuilt in 1997. The property consultancy noted that the original occupiers will be moving into a new facility to accommodate their current operational requirements which has grown since.
“This property would be a good fit for small to mid-sized food companies looking for a standalone factory in this established food–zoned cluster,” said JLL Capital Markets local director, Nicholas Ng. “The site is currently built up to a 0.90 plot ratio and has the potential to be refurbished and redeveloped to maximise its plot ratio by an additional 39,840 sq ft of GFA.”
“The potential buyer could also eventually expand on this site, and maximise on the potential GFA in the near future,” he added.
The industrial property comes with a guide price of S$6.8 million and the EOI exercise will close on 22 September.
Image source: JLL
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
UPDATE: This story has been updated to indicate that JLL’s Capital Markets local director is Mr Nicholas Ng.
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