The property at 15 Senoko Loop (Picture: CBRE)
SINGAPORE (EDGEPROP) - An industrial facility located at 15 Senoko Loop, off Admiralty Road West in the northern area of Singapore, is up for sale by private treaty with an indicative price of $100 million.
The facility sits on a site measuring 263,339 sq ft, with a remaining land tenure of 30 years with effect from June 1, 2020. The site is zoned for Business 2 (Industrial) use under the URA 2019 Master Plan. It has a plot ratio of 2.5, which means the building on-site can have a built-up area of up to 658,348 sq ft.
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Map of 15 Senoko Loop (Source: EdgeProp Inspector)
The existing facility on the site spans four storeys and has a total gross floor area of approximately 446,103 sq ft. It comprises 104,594 sq ft of climate-controlled warehouse space, 203,881 sq ft of production space and 137,628 sq ft of ancillary area. It is served by three sets of five-tonne cargo lifts, two passenger lifts and one wheelchair-accessible lift.
According to marketing agent CBRE, the site could potentially be converted for food-zone usage. “15 Senoko Loop sits within a well-established food manufacturing ecosystem with existing end-users for central kitchen and food distribution centres,” notes Graeme Bolin, head of occupier and leasing, industrial and logistics services, Singapore, at CBRE.
He adds that buyers could operate their business within the existing climate-controlled facility with minor asset enhancements. Alternatively, they could explore redeveloping the site into a modern ramped-up food production and warehouse facility.
Sales transactions of industrial property along Senoko Loop (Source: EdgeProp Research)
Price trends of industrial properties along Senoko Loop (Source: EdgeProp Research)
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