The two neighbouring B2 industrial sites at 10 and 12 Mandai Estate are offered at a land rate of $657 psf per plot ratio. (Picture: SRI)
SINGAPORE (EDGEPROP) - Two adjacent pieces of freehold industrial land at 10 and 12 Mandai Estate have been put up for sale in a public tender exercise by Singapore Realtors Inc (SRI).
The plots are zoned “Business 2” with a plot ratio of 2.5 under the latest Master Plan. The site at 10 Mandai Estate has a land area of about 34,919 sq ft, while the neighbouring site at 12 Mandai Estate is about 30,246 sq ft.
The properties have a guide price of $100 million, which works out to a land rate of $657 psf per plot ratio. This includes the land betterment charge.
“Business 2 Freehold industrial land is rarely available for sale. The upcoming Sungei Kadut Eco District will rejuvenate the future industries [in the area],” says Bruce Lye, managing partner of SRI. “With such massive transformation within the vicinity in the coming years, the opportunities are aplenty for the new owner with this freehold acquisition,” he says.
A market trend analysis of freehold industiral sales transactions between 4Q2017 to date, presented by EdgeProp's Market Trend tool. (Source: URA, EdgeProp)
The industrial sites are in the Sungei Kadut Planning Area. The Mandai Estate is connected to the Bukit Timah Expressway, Seletar Expressway and Kranji Expressway. The future Sungei Kadut MRT Interchange Station on the North-South and Downtown Lines is set to be operational by late 2030, and the station will be close to the Mandai Estate.
The public tender exercise for the property will close on Dec 9.
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