SINGAPORE (EDGEPROP) - Two industrial properties are up for sale in Tagore and Bukit Merah, according to Colliers International, which is marketing the properties.
The property at 12 Tagore Drive is being marketed at a guide price of $55 million ($573 psf). It is a four-storey freehold warehouse on a 57,641 sq ft plot.
Under URA’s Master Plan 2019, it is zoned under “Business 1” with a plot ratio of 2.0, and has a maximum allowable GFA of 115,281 sq ft.
The property is connected to major arterial roads and expressways including Upper Thomson Road, Yio Chu Kang Road, Seletar Expressway, Tampines Expressway and Central Expressway (CTE). It will be a six-minute drive to the upcoming Lentor MRT Station on the Thomson-East Coast line.
Meanwhile, a pair of strata industrial units at 205 Henderson Road, within Bukit Merah, is up for sale at $7.98 million ($730 psf).
The two freehold units are located in the Henderson Industrial Park, and occupy a total strata area of 10,926 sq ft. Both units are currently vacant.
The property is connected to major arterial roads and expressways, including Jalan Bukit Merah, Henderson Road, Ayer Rajah Expressway and CTE, and is a short 11-minute drive away from the CBD.
“Colliers International research forecasts the industrial supply to taper off in the next five years. Industrial assets command higher yields than office and retails assets and remain the most insulated compared to other asset classes in this pandemic,” says Steven Tan, senior director of capital markets & investment services at Colliers International.
The expression of interest exercise for both properties will close at 3pm on Aug 4.