SINGAPORE (EDGEPROP) - An industrial property at 132 Joo Seng Road in the Tai Seng area has been put up for sale via private treaty. Comprising a one-storey flatted factory block and an eight-storey light industrial block, the property has an indicative guide price of $34 million and is exclusively marketed by CBRE.

The property sits on a 72,395 sq ft site that has a remaining tenure of 23 years. It is zoned for Business 1 use, with a plot ratio of 2.5. The factory and light industrial blocks collectively have a gross floor area of about 161,466 sq ft.

The new owner can maximise the site’s underutilised plot ratio, subject to approval from relevant authorities, observes Graeme Bolin, head of occupier and leasing, industrial and logistics services, at CBRE. Based on the plot ratio of 2.5, the development’s built-up area can potentially be expanded to 180,988 sq ft.

Read also: Heritage building on Norris Road for sale at $16 mil

The light industrial block has a regular floor layout, a ceiling height of around 4m and two cargo lifts. This makes it ideal for businesses seeking visibility for signage and a corporate headquarters, Bolin notes. There are a total of 50 carpark lots at the block.

The factory block features a maximum ceiling height of 9m that can cater to storage or light production needs. In addition, it has a high-tension power supply at 22 kilovolts with transformers capable of handling a concentrated capacity of up to 5 megavolt-amperes, suitable for high-power industries.

The site’s strategic location and facilities make it ideal for businesses looking to establish or expand their presence in a key industrial hub, Bolin adds. It is accessible via major expressways such as the Pan Island Expressway and Central Expressway.

Check out the latest listings for Industrial Real Estate properties