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Nine strata industrial units on the ground floor of Pantech Business Hub have been put up for sale via an expression of interest (EOI), with a guide price of $650 psf on the existing strata area, revealed marketing agent JLL.
Industrial complex Pantech Business Hub comprises three seven-storey blocks. Located along Pandan Loop, the 99-year leasehold industrial building has a remaining lease term of around 65 years.
The nine contiguous units are located at Block 192 of Pantech Business Hub, featuring a total strata area of 17,825 sq ft. Currently fully tenanted to tenants from the engineering and food manufacturing industry, the units come with a 5.4m ceiling height, a regular column-free layout and 20kn/m2 floor loading. They are also adjacent to loading and unloading bays.
JLL noted that the units could be sold either collectively or individually.
Well served by major arterial roads and expressways such as the West Coast Highway and Ayer Rajar Expressway (AYE), Pantech Business Hub is also near the Pasir Panjang Container Terminal, which is touted as the key port for the upcoming two decades.
With this, JLL capital markets associate director Clemence Lee expects the units to attract robust interest from “owner-occupiers who are looking to own prime ground floor units within a centrally-located mature industrial area”.
“As more of the port activities starts congregating in the area, investors for the Pantech Business Hub can expect to benefit from the potential capital and rental upsides in the development due to the positive spillover effect of commercial activities into the area,” said Lee.
Foreigners are eligible to acquire the property since it is nestled on land zoned for residential use. Moreover, no Additional Buyer’s Stamp Duty (ABSD) is payable for the units.
The EOI exercise for the strata industrial units will close on 3 April.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg