The site currently features a single-storey warehouse, a three-storey ancillary office, and an open yard (Photo: CBRE)
SINGAPORE (EDGEPROP) - A B2 industrial site at 42H Penjuru Road in Jurong is up for sale via private treaty with an indicative price of $20 million, according to marketing agent CBRE.
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The site, which measures 155,313 sq ft, currently features a single-storey warehouse, a three-storey ancillary office, and an open yard. It also has direct access to a dedicated jetty. The land premium for both the site and jetty has been paid upfront.
The warehouse measures about 20,000 sq ft and features a 14.9m ceiling height, with a floor loading of 30 to 40 kilonewton per sqm. It connects directly to the yard space with multiple overhead crane fixtures ranging from 20 to 50 tones, which facilitates the loading and storage of heavy goods and outsized cargo. In total, the development has a gross floor area of 102,231 sq ft. There are also 13 car park lots available.
The site has a remaining tenure of 30 years with effect from Jan 22, 2009. It has a plot ratio of 1.0, which means the new owner can potentially increase the built-up area to 155,313 sq ft. Meanwhile, the jetty measures 6,535 sq ft and has a remaining tenure of 25 years with effect from Jan 21, 2014.
Map and overview of 42H Penjuru Road (Source: EdgeProp LandLens)
42H Penjuru Road is located within close proximity to PSA terminals, Jurong Port, International Business Park and Jurong Island.
Given the site’s dedicated jetty, Graeme Bolin, CBRE’s head of occupier and leasing, industrial and logistics services, believes it will strongly appeal to firms involved in marine industrial activities. “Considering the seamless access of the jetty from the production space, coupled with the ample yard space and overhead crane fixture, industrialists can transport and handle large bulky equipment safely and easily to and fro the locations,” he remarks.
At any rate, Bolin anticipates keen interest in the site from prospective buyers in various industries such as infrastructure, oil & gas, maritime and engineering, supported by demand for quality production and warehouse space. “42H Penjuru Road presents a timely opportunity for investors and owner-occupiers alike, to acquire a prime industrial and logistics space that can house all functions of the business,” he adds.
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