An attractive Freehold Industrial proposition for property developers and Investors
A freehold industrial building located at 21 New Industrial Road located just off Upper Paya Lebar Road, is up for sale at an estimate in the range of $71million. The property will be sold through a public auction that expires on June 30 as per a press announcement on May 18 from ERA Realty Network, the sole agent to market the property.
The property at 21 New Industrial Road is zoned “Business 1” with the gross plot ratio of 2.5 according to the most recent masterplan. It is located on two roads with one on Lim Teck Boo Road and the other on New Industrial Road.
The property is situated within Bartley as well as Tai Seng MRT Stations on the Circle Line as well as roads that connect it to Upper Paya Lebar Road and Bartley Road East. It is also near to Paya Lebar ipark that houses offices for businesses like Mapletree 18, Breadtalk, Sakae Sushi, and Charles & Keith.
“Singapore is poised to profit from the growth in both local and foreign investments in the industrial and commercial property sectors. It’s not often that you see an industrial development that is freehold and has potential for redevelopment in a city-fringe property being offered on markets,” states Steven Tan the managing director of investment sales and capital markets for ERA Realty.
The owner anticipates a lot of demand by property developers or institutional investors in particular since it is possible that the property could be developed as a strata-titled project or even a multi-user or single-user corporate headquarters.