Four Industrial Property Parcels Up For Sale

INDUSTRIAL MARKET

Four industrial property parcels up for sale

Four buildings - a seven-storey corner terrace building, a five-storey industrial building, a single storey factory and an industrial redevelopment site - go on sale today.

The terrace building at 1 Kaki Bukit Place, with a built-in area of 30,570 sq ft, sits on approximately 11,950 sq ft of land. Its 60-year lease began on Nov 20, 1995.

 

Between March and July, seven similar terrace units in the vicinity changed hands, with the latest transaction fetching $1,399 psf.

The guide price for 1 Kaki Bukit Place is $11.95 million, which works out to approximately $390 psf on the built-up area and $1,000 psf on the land area. It will be sold with vacant possession.

The second building to be sold is the Global Innovation Centre industrial building at 152 Ubi Avenue 4.

It sits on 49,187 sq ft of land and has a gross floor area of 98,246 sq ft.

The tenure of the property is 30 years, with an option to renew it for another 30 from Feb 1, 1997.

The third building, a standard single-storey factory with a mezzanine level along 42 Changi South Street 1, is being sold for a guide price of $11 million, which works out to $215 psf ppr.

The building has a gross floor area of 51,204 sq ft and a tenure of 30 years, with an option to renew it for another 30 with effect from July 1, 1996.

The current lessee, independent worldwide supplier and manufacturer of high-quality printers Printronix Schweiz GmbH, is exploring a sale and leaseback of the building.

Pak Chong Building at 78 Playfair Road, the fourth building on sale, occupies a freehold site and has a land area of 25,782 sq ft.

At a guide price of $36 million, this translates to a land price of $559 psf ppr. The existing development, primarily used for light industrial, is made up of seven units with sizes ranging from 4,768.4 sq ft to 6,835 sq ft.

The tender for Pak Chong Building will close at 3pm on Oct 24; 1 Kaki Bukit Place and Global Innovation Centre are available via private treaty, while the deadline for expression of interest in 42 Changi South Street 1 is Oct 2.

Source: Business Times – 25 September 2012