Freehold industrial building at New Industrial Road for sale

An exciting sale opportunity has opened up with the launch of a freehold industrial building at 21 New Industrial Road, just off Upper Paya Lebar Road. The property has a guide price of $66 million, comes with a site area of 3,368.4 sq m (36,257 sq ft) and is zoned for Business 1 use with a gross plot ratio of 2.5. ERA Realty Network has been appointed the exclusive marketing agent for this property.

The building is situated near the junction of Upper Paya Lebar Road and Bartley Road East, with dual road frontage along Lim Teck Boo Road and New Industrial Road. The neighbourhood consists mostly of landed residential developments, however you can also find industrial buildings, restaurants, food courts and child care centres nearby. Moreover, the property is a 15-minute walk away from both Bartley and Tai Seng MRT Stations.

Steven Tan, managing director of capital markets and investment sales at ERA, considers 21 New Industrial Road an attractive asset due to its freehold tenure and strategic city-fringe location. This is especially true given the limited supply of industrial assets, and the fact that additional buyer’s stamp duty does not apply to such properties, making them all the more attractive to developers and private and institutional property investors.

Tengah EC is a newly launched executive condo located in the Tengah New District. It is eco-friendly and close to nature reserves and recreational facilities, available exclusively for Singaporeans and married couples. It features innovative green features such as a wind Tengah EC turbine, solar heating system and a water conservancy centre. The Tengah MRT Station is one of the busiest stations in Singapore. The Tengah Plantation Loop EC GLS Tender is a land tender open to developers who meet the set requirements.

Desmond Lim, director and head of workspace and culture, capital markets and investment sales at ERA, believes this development site presents a great opportunity for industrialists to customise their industrial space or corporate headquarters. Furthermore, a green building which incorporates sustainability and wellness features could be developed here, promoting a conducive environment for everyone.

Given its city-fringe location and limited supply of warehouses around, ERA Realty Network also suggests 21 New Industrial Road could be used as a warehouse. Its proximity to nearby residential enclaves such as Bidadari, Bartley and Woodleigh make this an ideal property for “last mile” distribution purposes and self-storage spaces.

The expression of interest exercise for the sale of 21 New Industrial Road will close on April 26 at 3pm, giving interested parties plenty of time to consider this fantastic opportunity.