Singapore - A heavy-industry industrial development at 1 Fourth and 4 Fifth Lok Yang Road has been put up for sale by expression of interest (EOI). The indicative price is S$20 million.
Sitting on a 133,876 square feet (sq ft) corner site, the property comprises five buildings - two single-storey factory buildings with mezzanine level, a single-storey factory building, a two-storey factory building and a four-storey factory building.
The total gross floor area is about 107,130 sq ft. The property enjoys prominent triple frontages, facing Fourth Lok Yang Road, Fifth Lok Yang Road and Lok Yang Way.
The development is zoned for "Business 2" use, with a maximum approved plot ratio of 2.5. The remaining tenure for 1 Fourth Lok Yang Road and 4 Fifth Lok Yang Road are 18 and 22 years, respectively.
Grace Ng, deputy managing director of Colliers International, which is marketing the property, said: "This is a great opportunity for end-users in the B2 industry, especially those in the manufacturing, plastic moulding and engineering industry, among others, to acquire landed industrial facilities.
"The subject property comes with two titles; hence, giving the successful buyer the flexibility to sub-divide the land into two smaller plots, depending on the business requirements.
"Industrial space with such a large land area is hardly available for sale. Compared to the four other non-strata industrial developments sold this year, whose land areas range from approximately 15,004 sq ft to 78,021 sq ft, this subject property has one of the largest land areas within the vicinity."
Located within Jurong Industrial Estate, the property is accessible by Ayer Rajah Expressway and Pan Island Expressway. It is also near Jurong Port and Tuas Second Link, and within a stone's throw from Joo Koon MRT Station.
Interested parties should submit their offers to Colliers by March 10, 2016 at 3pm.
On Monday, another B2 industrial development, this time a food factory, at 255 Jalan Boon Lay was also launched for sale by EOI.
Sprawling across a massive corner site of about 316,524 sq ft, the food factory has a gross floor area of about 130,000 sq ft and comes with a maximum plot ratio of 2.5.
Its JTC lease expires in October 2029. The exercise ends on March 1, 2016 at 3pm.
This article was first published on January 14, 2016.
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