Industrial site at Jalan Kilang Barat up for grabs

The price for 11,462 sq ft-building ranges between $20-$22m.

In a release, Jones Lang LaSalle said that i has been appointed as the exclusive marketing agent to launch for sale by tender, a light industrial building located at Jalan Kilang Barat.

This industrial building is located within an established light industrial estate off Jalan Bukit Merah, within proximity to the Bukit Merah precinct and a short drive to the Central Business District (CBD). Surrounding buildings include the Panasonic Building, Mova Building and Petro Centre, as well as some developments that are currently under construction such as Central-Link and No.1 Jalan Kilang Barat.

The subject property is a single-user building which sits on a “Business 1” zoned site of 11,462 sq ft with a gross floor area of about 28,560 sq ft and lettable area of approximately 26,700 sq ft. The building, completed in January 2010, is currently owned and occupied by a single user, and the lease has about 48 years remaining.

The owner is expecting $20 million to $22 million for the subject property, which works out $700 psf to $770 psf of gross floor area and $750 psf to $824 psf of the estimated lettable area.

Tan Hong Boon, Regional Director of Investments at Jones Lang LaSalle comments:

“The subject property along Jalan Kilang Barat is ideal for owner occupation as corporate headquarters within a well-established industrial precinct. The existing building accommodates a showroom, warehouses and office space which has the flexibility to be configured for various needs. This caters well to a growing demand from occupiers seeking a cost effective, integrated business space solution that is close to the CBD area.”

Mr Tan added: “Potential buyers are offered a rare opportunity to own a single-user, modern and high-quality industrial building in this locality, especially as the newer developments around this area are often strata-titled for multiple users.”

Tender closes on 12 October 2012 (Friday) at 2.30pm.