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The entire eighth floor of the industrial development One Sims Lane has been put up for sale by expression of interest (EOI), revealed by marketing agent Savills Singapore.
Located along Lorong 23 Geylang, One Sims Lane is an eight-storey freehold building that is served by three passenger lifts, two goods lifts and comes with two loading/unloading bays. Ample car parking can also be found on the ground floor and on the second level.
The property has a strata floor area of around 26,242 sq ft and includes five accessory lots. Savills noted that the floor plate is designed with a “rectangular configuration, comprising of units on both sides of the corridor to facilitate transfer of goods and passenger lifts”.
The property is a short walk from Aljunied MRT station on the East West Line, a short drive from the Central Business District and Changi Airport.
“This is perhaps the only freehold industrial floor in a central location with a generous floor plate of this size in the market right now,” said Donald Goh, Savills Singapore’s director of investment sales.
“With its functional design and excellent specifications, the subject property will attract not only business activities related to research and development, IT, call centres, but also new potential occupiers in e-commerce, co-working, incubators, last mile logistics etc.”
Goh noted that the industrial investment market has remained active in view of the recent deals concluded. The most notable of which is Citimec Industrial Complex as it “sets a new pricing benchmark for freehold industrial land”.
“This is a good indication that property developers and investors are still actively looking at industrial properties as an investible asset class.”
The EOI exercise for the property will close on 9 November.
(Photo: Savills Singapore)
This article was edited by Keshia Faculin.
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