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The development comprises two four-storey industrial blocks that are adjoined by a single-storey building and occupies a 162,650 sq ft site. Photo: Savills Singapore
An industrial development at 53 Loyang Drive has been put up for sale via private treaty with a guide price of $25 million, revealed sole marketing agent Savills Singapore.
Located off Pasir Ris Drive 3 and Loyang Avenue, the development comprises two four-storey industrial blocks that are adjoined by a single-storey building. It occupies a 162,650 sq ft site that is zoned for Business 2 use, with a plot ratio of 2.5.
The property has a 60-year JTC leasehold tenure, effective from 1992, and a gross floor area of around 116,427 sq ft.
“With a remaining land lease of 31 years, the property would present as an attractive proposition for prospects looking for a longer leasehold property,” said Sharon Teo, Managing Director, Business Space, Savills Singapore.
“Based on permissible plot ratio of 2.5, the current plot ratio of 1.8 remains under-utilised that will offer prospects with potential asset enhancement or redevelopment opportunities.”
Savills noted that the development is near the Tampines Expressway, while the Pasir Ris and Tampines East MRT stations are a short drive away.
“With the Cross Island Line Station targeting to open by the year 2029, the future Loyang station will offer conveniences for occupiers at the Loyang Industrial Estate in the long term,” it added.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
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