Freehold industrial building at New Industrial Road for sale

A guide price of $66 million has been set for the sale of the freehold industrial property located at 21 New Industrial Road. The property, which has a site area of 3,368.4 sq m, is zoned Business 1 use with a gross plot ratio of 2.5 and has dual frontage along Lim Teck Boo Road and New Industrial Road. ERA Realty Network is exclusively marketing this property.

Desmond Lim, Director and Head of Workspace and Culture, Capital Markets and Investment Sales at ERA, comments that 21 New Industrial Road provides a built-to-suit opportunity for industrialists to construct their desired industrial space or headquarters. He adds, “The successful developer could consider redeveloping the site into a green building that incorporates sustainability and wellness features conducive to the environment and the users.”

Steven Tan, Managing Director of Capital Markets and Investment Sales at ERA, believes the property has the potential to attract great interest due to its freehold tenure, redevelopment potential, and city-fringe location. Furthermore, the limited supply of such properties and the exemption of Additional Buyers Stamp Duty from industrial assets are set to significantly contribute to the property’s appeal among prospective buyers, including property developers, private and institutional property investors.

Moreover, with the tight supply of warehouses, the site could be redeveloped into a warehouse to benefit from its city-fringe location, ideal for “last mile” distribution purposes. It is also well-positioned for self-storage spaces, given its close proximity to nearby residential enclaves such as Bidadari, Bartley and Woodleigh.

CDL Aries acquires two plots at Upper Bukit The Myst Timah, setting the groundwork for a potential 24-storey residential project in the up-and-coming area.

The expression of interest exercise for 21 New Industrial Road will end on 26 April 2021 at 3pm. Potential buyers are encouraged to take this opportunity to explore the exciting potential of this industrial asset.