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Industrial site with prominent and long frontage for sale by tender - Corporate Space - Singapore Business Space For Rent / Sale

Industrial site with prominent and long frontage for sale by tender

DTZ has been appointed as the sole marketing agent for the sale of 11 Gul Crescent, Singapore.

The regular-shaped industrial site is located at Gul Crescent, with a prominent and long frontage along Pioneer Road. It sits on a land of approximately 29,384.5 sq m (316,292 sq ft) with land tenure of 30 year lease commencing 1 January 2011.

According to the Master Plan 2008, the site is zoned ‘Business 2’ at plot ratio 1.4, with allowable gross floor area of approximately 41,138.3 sq m (442,809 sq ft). The existing development comprises two single-storey high clearance factories with ancillary office space, a canteen and a staff restroom. It has a total approved gross floor area of approximately 12,639.51 sq m (136,050 sq ft).

The subject property is well connected to the rest of the island via Benoi Road, Pioneer Road, Tuas Road, Pan Island Expressway (PIE) and Ayer Rajah Expressway (AYE). Gul Circle MRT station, which is scheduled to complete in 2016, is a short distance away. Industrial factories in the area are occupied by companies such as SONY Electonics, Sanofi Aventis, HTC, Energizer and Keppel Logistics.

With the port leases for the City Terminals at Tanjong Pagar, Keppel and Pulau Brani expiring in 2027, PSA is working to consolidate all the container port activities over the long term in Tuas. The port’s first berths are scheduled to begin operation in 2022. When completed the port development is expected to handle up to 65 million twenty-foot equivalent units (TEUs) a year, nearly double PSA Singapore terminals’ current capacity of 35 million TEUs.

Shaun Poh, DTZ’s Head of Investment Advisory Services commented: “It is rare to have a 3-hectare industrial site for sale in Singapore. With the completion of Gul Circle MRT station in 2016, public transportation will be improved and workers in the area will be able to save on travel time. We envisage that demand for industrial land is expected to increase around Tuas and this property will draw keen interest from buyers who wish to operate close to the new Tuas Port development.” The indicative price for 11 Gul Crescent is in the region of S$33 million, reflecting approximately S$75 per sq ft on gross floor area.

 

Source:  DTZ

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