Jun 2, 2016
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An industrial property (pictured) comprising of three single-storey warehouses with mezzanine, a single-storey warehouse and a three-storey office block at 57 Senoko Drive  has been put up for sale by expression of interest (EOI), CBRE announced Thursday (2 June).

According to the press release, CBRE’s Industrial & Logistics team has been appointed to dispose of the assets through an outright sale arrangement via vacant possession.

Zoned for Business-2 uses, the property has a land area of approximately 312,038 sq ft and a plot ratio of 1.4. The development is being leased from JTC on a 30 + 30 year-tenure from 1 February 1982, with a balance of 26 years.

“The site’s potential gross floor area can be maximised up to an approximate 436,000 sq ft, ideal for end users who have plans to expand or redevelop the building in future,” CBRE added.

CBRE Industrial & Logistics executive director for Advisory & Transaction Services, Brenda Ong, said the site will be an “edge above other shorter[-tenured] leasehold properties and will create high demand from end users who will be able to maximise their investment in the property, plant and equipment.”

Responding to an enquiry by CommercialGuru, CBRE said the property comes with a guide price of S$28 million.

The EOI exercise for this property will close on 23 June.

Image source: CBRE

Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg

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