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An eight-storey light industrial development at 10 Jalan Kilang has been put up for sale via an expression of interest (EOI) exercise, revealed marketing agent CBRE.
With a total gross floor area of about 59,236 sq ft, the property – which comes with a roof terrace and basement carpark – occupies a 20,584 sq ft site zoned for Business 1 use with a plot ratio of 2.5.
It is located off Jalan Bukit Merah and is close to Redhill MRT station. The property is also easily accessible via major arterial roads as well as the Ayer Rajah Expressway.
CBRE industrial and logistics services executive director Rimon Ambarchi expects the property to appeal to both institutional and private investors.
“The subject property generates a strong and stable yield due to its high-quality tenancy mix. Based on a net lettable area of approximately 47,824 square feet, the building is currently 80 percent tenanted comprising companies from the electronics, biomedical, information technology, shipping and trading sectors, among others,” he said.
“Coupled with this stable rental income, the property’s fringe CBD location with a prominent frontage along Jalan Bukit Merah will attract strong investor interest.”
He noted that that property also provides immediate cashflow and rental upside as the successful buyer can sell the units on a strata-title basis, subject to the approval of the relevant authorities.
The EOI exercise for the property closes on 5 April.
Photo: CBRE
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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