Freehold industrial building in Aljunied for sale at $23 mil
By Timothy Tay
/ EdgeProp |
Ask Buddy
A freehold industrial building at 51 Lorong 21 Geylang is on the market for $23 million, or $599 psf per plot ratio, according to Edmund Tie & Co (ET&Co), the sole marketing agent for the sale.
The property is held under a single ownership which is likely to make for a straightforward sale. “The relatively palatable quantum of the property presents a rare opportunity for end-users and developers to acquire a rare freehold industrial site at a city-fringe location,” says Swee Shou Fern, executive director of investment advisory at ET&Co.
Picture: ET&Co
The new owner will also have potential signage and naming rights for the property.
Located in a mature industrial cluster near Aljunied MRT Station, the property sits on a site of 15,364 sq ft. The land has a gross plot ratio of 2.5, and is zoned for Business 1 use under the 2014 Master Plan. The site may be redeveloped to a maximum allowable gross floor area of 38,410 sq ft, and no development charge is payable, the agent says.
The tender exercise will close on May 28.
Ask Buddy
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles