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Two large interlinked industrial buildings at 3 Gul Crescent have been put up for sale with an asking price of $13 million.
This comes as the sellers – an import and distribution business servicing the print industry – are relocating to another site to optimise their operations.
With a gross floor area of about 64,495 sq ft, the property comprises warehousing, office and production areas, loading and unloading bays as well as a large open yard. The 117,499 sq ft site, which has 22.5 years left on its lease, is zoned for Business 2 use with a plot ratio of 1.4.
Marketing agent JLL noted that the development is near Gul Circle MRT station and is just a 10-minute bus ride away to the Integrated Joo Koon Transport Hub. It is also accessible via the Pan Island Expressway (PIE) and the Ayer Rajah Expressway (AYE).
JLL capital markets director Nicholas Ng believes the property will be a good fit for companies planning to establish a corporate presence or expand within the Gul Industrial Estate.
“The site is currently built up to a 0.55 plot ratio and has the potential to be refurbished and redeveloped to maximise its plot ratio by an additional 100,004 sq ft of GFA,” he said.
“The built up of the existing two warehouses with large floor plate, high floor loading and high ceiling being well maintained, will allow an end user to move in easily to optimise the space. The potential buyer could also eventually expand on this site and maximise on the potential GFA in the near future.”
The expression of interest for the property closes on 14 September.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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