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A warehouse at 12 Tagore Drive and two strata units at 205 Henderson Road – are up for sale via expression of interest (EOI). Photo: Colliers International.
Two industrial properties – namely, a warehouse at 12 Tagore Drive and two strata units at 205 Henderson Road – are up for sale via expression of interest (EOI), revealed marketing agent Colliers International.
Located in the established industrial cluster of Tagore, the four-story warehouse carries an indicative price of $55 million, which works out to $573 per sq ft (psf) based on a 95,819 sq ft existing gross floor area (GFA).
The freehold property occupies a 57,641 sq ft site that is zoned for Business 1 use under the 2019 Master Plan with a plot ratio of 2.0. This translates to a maximum allowable GFA of about 115,281 sq ft.
It enjoys strong connectivity via expressways and major arterial roads including Seletar Expressway, Tampines Expressway, Central Expressway, Upper Thomson Road and Yio Chu Kang Road. It is also near the upcoming Lentor MRT stations, which is set to start operations after July 2020.
Steven Tan, Senior Director of Capital Markets & Investment Services at Colliers International, said buyers have the flexibility to redevelop the property to maximise the GFA for their own use or immediately move in for their business operations.
“We also expect this opportunity to attract developers looking for freehold industrial redevelopment sites,” he added.
The two strata units at 205 Henderson Road, on the other hand, carry an indicative price of $7.98 million, or about $730 psf based on the total strata area of 10,926 sq ft.
Situated in Henderson Industrial Park, the freehold property is an 11-minute drive from the Central Business District and is well-served by expressways and major roads including Ayer Rajah Expressway, Central Expressway, Henderson Road and Jalan Bukit Merah. It is also near the Bukit Merah Bus Interchange.
Currently, both units are vacant and are being sold with vacant possession.
“These units are located in Bukit Merah, a well sought-after industrial location for industrialists. This opportunity is excellent for end-users looking for showroom or warehousing space for their business operations,” added Tan.
The EOI exercise for the two industrial properties closes on 4 August.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg