SINGAPORE (EDGEPROP) - An industrial development comprising two 4-storey industrial blocks adjoined by a single-storey building at 53 Loyang Drive is on the market at a guide price of $25 million, according to Savills Singapore.

The property occupies a total site area of approximately 65,060 sq ft with a gross floor area  of about 116,427 sq ft.

The property is located off Pasir Ris Drive 3 and Loyang Avenue, in an immediate neighbourhood of industrial properties and HDB residential blocks.

Under URA’s Master Plan 2019, the land is zoned Business 2, with a maximum plot ratio of 2.5. “The current plot ratio of 1.8 remains under-utilised, which will offer prospects of potential asset enhancement or redevelopment opportunities,” says Sharon Teo, managing director, business space, at Savills Singapore, who is marketing the property.

The property has a JTC leasehold of 60 years, effective from 1992, with a remaining lease of about 31 years.

The property is about a seven-minute drive to Pasir Ris MRT Station on the East-West Line.

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