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Knight Frank noted that the space may be repurposed by future owners into various uses like furniture/electronics display on the ground level, car accessory, self-storage businesses or even eCommerce.
“The superb location right next to Redhill MRT station, plus a ready pool of labour from the nearby catchment of residential developments, will definitely enhance the value of the properties in the median term.”
Two industrial properties located along the Leng Kee car showroom belt have been put up for sale via expression of interest, revealed Knight Frank, which is jointly marketing the two properties with Yeo & Yeo Properties.
With a guide price of $15 million, the two-storey workshop/showroom cum office building at 3 Leng Kee Road is nestled on a 1,506.6 sq m (16,216.89 sq ft) site, featuring a floor area of 1,372.94 sq m (14,778.19 sq ft). It is currently under light industrial use, with a balance leasehold of 33 years. The standalone detached building is presently tenanted by Stuttgart Auto.
The property at 19 Leng Kee Road, on the other hand, is a five-storey showroom cum factory building with a half-basement carpark. With a guide price of $23 million, the property sits on a 1,358 sq m (14,617.38 sq ft) site that is zoned “Industrial (B1)” under the 2014 Master Plan with a 2.5 allowable gross plot ratio. The building has a floor area of 2,696.76 sq m (29,027.65 sq ft) and a balance leasehold of 35 years.
Knight Frank noted that the space may be repurposed by future owners into various uses like furniture/electronics display on the ground level, car accessory, self-storage businesses or even eCommerce.
“For qualifying industrial users, especially those in the automobile industry, this is an opportune time to own a corporate building. Due to its size, this might also attract more prestigious, branded dealers and distributors,” said Knight Frank Singapore industrial head Tan Boon Leong.
“The superb location right next to Redhill MRT station, plus a ready pool of labour from the nearby catchment of residential developments, will definitely enhance the value of the properties in the median term.”
The EOI exercise for the two properties will close on 3 December.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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