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Two industrial properties at 9 and 11 Third Chin Bee Road have been put up for sale via an expression of interest (EOI) exercise, with the vendor expecting offers in excess of $9 million, revealed marketing agent JLL.
The two “Business 2” properties comprise two buildings containing office spaces, warehousing and production, interlinked by a covered yard.
With an estimated gross floor area (GFA) of 54,510 sq ft, the properties sit on a 67,429 sq ft leasehold site, which has balance lease term of 20 years and a plot ratio of 2.5.
The adjoining facilities are currently used for the distribution and warehousing of paper products.
The properties are located near the upcoming Enterprise MRT station, while the Integrated Jurong Point is a 10-minute drive away. They are also easily accessed via the Ayer Rajah Expressway (AYE) and Pan Island Expressway (PIE).
Enjoying a 96m frontage onto Third Chin Bee Road, the buildings “will be a good fit for companies looking for a corporate presence or to expand within the Chin Bee Industrial Estate”, said Nicholas Ng, senior director for capital markets at JLL.
He noted that the site is “currently built up to a 0.8 plot ratio and has the potential to be refurbished and redeveloped, to maximise its plot ratio by an additional 114,062 sq ft of GFA”.
The EOI exercise for the industrial properties closes on 28 May.
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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