Citilink Warehouse Complex (Picture: Cushman & Wakefield)
SINGAPORE (EDGEPROP) - A portfolio of 62 freehold strata industrial units at Citilink Warehouse Complex in Pasir Panjang is up for sale via an expression of interest (EOI) exercise. The portfolio has a guide price of $103 million.
The strata units are located at Block 102E and range from 947 to 2,885 sq ft. Altogether, they have a combined strata area of about 103,301 sq ft. The units are 100% occupied by multiple tenants, thus offering the future buyer immediate income upon purchase, says exclusive marketing agent Cushman & Wakefield. The portfolio represents a share of approximately 34% share of the development.
Map showing Block 102E at Citilink Warehouse Complex (Source: EdgeProp LandLens)
Citilink Warehouse Complex is an eight-storey twin-building industrial development located along Pasir Panjang Road. The site is zoned for “Business 1” use under Master Plan 2019. The buildings’ specifications include carparking facilities, high floor-to-ceiling clearance and high floor loading.
The development is 500m away from the Pasir Panjang MRT Station on the Circle Line, and is accessible via multiple expressways such as the Ayer Rajah Expressway, West Coast Expressway, Keppel Viaduct, Marina Coastal Expressway and East Coast Parkway. It is also located directly across the PSA Pasir Panjang Terminals, offering connectivity to the seaports.
“Freehold strata industrial units are rare to come by and especially one that is right at the doorstep of the PSA Pasir Panjang Terminals, and within walking distance of Pasir Panjang MRT Station and Mapletree Business City. This presents an exceptional opportunity for investors as well as end-users seeking large industrial space within close proximity to the ports and is centrally located,” says Shaun Poh, executive director of capital markets at Cushman & Wakefield.
Recent resale transactions at Citilink Warehouse Complex (Source: EdgeProp Research tool)
Poh highlights that Citilink Warehouse Complex will also likely benefit from its proximity to the future Greater Southern Waterfront. He adds that the potential buyer also enjoys the flexibility to exit the investment via bulk and/or individual strata sale.
The EOI exercise for the portfolio will close on May 25 at 3pm.
Check out the latest listings near Citilink Warehouse Complex, Mapletree Business City, Pasir Panjang MRT Station