Located with the Defu industrial estate, the three-storey building sits on 41,700 sq ft site that is zoned for “Business 1” use, and has a gross floor area of about 35,000 sq ft. Source: Google Maps
A three-storey light industrial building within the Defu industrial estate has been put up for sale via expression of interest (EOI), revealed marketing agent Colliers International.
With a gross floor area of about 35,000 sq ft, the property sits on 41,700 sq ft site that is zoned for “Business 1” use under the 2019 Master Plan with an allowable plot ratio of 2.5. The site has a balance lease term of about 21 years from JTC.
Colliers noted that the property, which is currently underdeveloped, can be transformed into a multi-storey industrial space with more than 100,000 sq ft, subject to the approval of relevant authorities.
The building enjoys easy access to the city and is well-served by major expressways like the Pan Island Expressway and the Kallang-Paya Lebar Expressway.
Meanwhile, the immediate location is primarily characterised by new developments such as The Paradise Group headquarters and self-storage facilities operated by StorHub and Mandarin.
“The Defu Industrial Estate has traditionally been very popular with industrialists due to its central location as well as its proximity to populous residential areas of Paya Lebar and Hougang. The property would attract interest from end-users looking to occupy their own corporate HQs and self-storage companies looking to expand or plant their footprint here due to its proximity to residential estates nearby,” said Steven Tan, Executive Director of Investment Services at Colliers International, who is handling the sale.
The EOI exercise for the industrial building closes on 9 September.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: email@example.com