Leasehold industrial building property will appeal to industrialists in Ang Mo Kio for sale at $27 mil

A three-storey industrial property located at the 1 Ang Mo Kio Street 63 is available for sale at $27 million. In a news release issued from CBRE on May 19th the property is to be sold by private treaties. CBRE serves as the exclusive agent to market that industrial site.

The Reserve Residences showflat is taking advantage of the convenient location and the neighbourhood’s lush greenery with laid-back charm, the future owners can look forward to great living spaces.

The building is situated on an 87,340 square foot site with a 30-year + 30 year lease which began April 1st 1987. It means that 26 years remain in the lease. The land is classified as “Business 2” with the gross plot ratio being 2.5 according to the most recent master plan. Therefore, it is possible that the site could be developed to create a brand new industrial structure that could have a built-up area of 218,350 square feet according to CBRE. The current construction has a net floor space of 116,768 sq feet.

The current building has an enormous loading area as well as a carpark. It also has an additional office as well as a food court for staff. There is also a warehouse on the second and first floors, while the 3rd floor functions as an R&D or quality-control center. Four loading docks located on the ground floor are comprised of two cargo lifts of 2 tonnes that are accessible to the entire floor.

Based on Graeme Bolin, head of leasing and occupier services, logistic and industrial services in CBRE Singapore, the property “will attract industrialists looking to establish themselves in a reputable technology hub, as well as industrialists working in the advanced manufacturing, hi-tech and semiconductor industries”.

He also notes that the location doesn’t have any other industrial sites that could be redeveloped and that the current underused plot ratio will provide additional space for owners. “We believe of the fact that the 1 Ang Mo Kio Street 63 is a great opportunity for owners and investors too,” says Bolin.