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A portfolio of 69 industrial units at Ruby Warehouse Complex at Kaki Bukit Road 2 is up for sale by public tender, CBRE announced Wednesday (24 August).
The offering includes all 36 strata units on the ground floor with an area of approximately 63,248 sq ft, and 33 units are spread across levels 2 to 4 with about 70,643 sq ft of strata area. The entire portfolio of units comes with a total area of approximately 133,892 sq ft and represents about 53 percent of the four-storey strata-titled development’s total share value.
CBRE director for Investment Properties, Galven Tan, said, “Ground floor road fronting units with direct loading/unloading access are hardly available in the market… the property will appeal strongly to logistics companies and business with warehousing requirements.”
The vendor is said to be looking to sell the entire portfolio to a single purchaser, but buyers also have the flexibility of bidding for either the 36 units on the ground floor or the set of 33 units located from Levels 2 to 4.
The guide price for the sale is in the range of S$37.5 million to S$38.8 million. This translates to an average price of S$280 to S$290 per sq ft.
According to CBRE, the units are 100 per cent tenanted and are offered for sale with existing tenancies, “which investors will benefit immediately from strong cash flow returns.”
The tender exercise will close on 6 October.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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