Industrial building at Kung Chong Road up for sale at $19 mil
/ EdgeProp Singapore |
The property is a light industrial-cum-office building (Photo: JLL)
SINGAPORE (EDGEPROP) - A B1 industrial property at 6 Kung Chong Road, near Alexandra Road, is up for sale via an expression of interest exercise, with a guide price of $19 million.
See also: Reebonz Building up for sale by tender
Map and overview of 6 Kung Chong Road (Source: EdgeProp Inspector)
The property is a light industrial-cum-office building. Part of the building comprises three storeys, while the remainder spans four storeys. There is also a single-storey car service workshop on the ground floor.
The building sits on a total site area of approximately 15,996 sq ft. It has a gross area of approximately 15,642 sq ft, with the potential to increase to approximately 40,000 sq ft with a plot ratio of 2.5.
The property sits on JTC land which has a leasehold tenure of 99 years effective Dec 14,1956, with a remaining lease of about 33 years. According to JLL, which is marketing the property, no land rent is payable.
The property is located in the Leng Kee car showroom belt, alongside showrooms for Audi, BMW, Ferrari and Jaguar, among others. Ikea Alexandra and Queensway Shopping Centre are within five-minute driving distance. The Redhill and Queenstown MRT stations on the East-West Line are within a three-minute drive, or a 15-minute walk, away.
The expression of interest exercise will close on May 18.
Recent transactions of properties within a 1km radius of Kung Chong Road (Source: EdgeProp Research tool)
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