INDUSTRIAL MARKET
Upper Paya Lebar industrial building going for $32mA freehold industrial building at 14 Little Road, has been put up for sale with an indicative price of $32 million, or $513 per square foot per plot ratio.
The existing development, Tropical Industrial Building, is located off Upper Paya Lebar Road. The eight-storey building has parking spaces for 20 cars in the basement.
It comprises eight strata-titled units with total strata floor area of some 50,289 sq ft and total gross floor area (GFA) of 62,375 sq ft.
Although the building sits on a land area of some 22,126 sq ft, with plot ratio of 2.5, no development charge is payable if a developer chooses to redevelop the site to its full potential of 62,375 sq ft (GFA).
The subject site is situated close to private and public housing estates and eateries are readily available at the shophouses at the junction of Upper Paya Lebar Road and Little Road.
More amenities will also be available at The Commerze@Irving when it is completed in 2015 and at the Reserve Site on JTC's land sale list at Tai Seng Link zoned "Business 2-White" when it is triggered and awarded.
Source: Business Times – 19 September 2012
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