Tai Seng property 50 Playfair Road for sale at $70m

The land has no restriction to foreign ownership and no ABSD payable.

An 8-storey Tai Seng property is for sale for a guide price of S$70m, Edmund Tie & Company announced in a press release.

50 Playfair Road is a freehold property located at Tai Seng. The corner land plot has a site area of approximately 2,489 square meters, and currently seats a 8-storey development with dual road frontage of approximately 120m.

The guide price of S$70m translates to a land rate of S$776 to S$986 per square foot per plot ratio, depending on the proportion of industrial and white use.

The land hasno restriction on foreign ownership and is not subject to Additional Buyer Stamp Duty (ABSD), Edmund Tie said.

50 Playfair Road offers a unique opportunity for owner occupied looking to develop and custom-build their property, says Swee Shou Fern, head of investment advisory, Edmund Tie.

“Sites zoned for “Business 1 - White” use is scarce, with only a few clusters across Singapore. The modern facility could seamlessly integrate light industrial and various business functions’ operations, making it a prime choice for businesses who are seeking to streamline and consolidate their operations,” Swee said.

The tender for the site closes on 22 November, 3PM.