International property consultant, Colliers International will be putting up for sale – by Expression of Interest – a light industrial building located at 3 Depot Close.
Interested parties are invited to submit their offer by September 20, 2012 at 1.00 pm.
The development sits on a 70,162 sq ft site and has a JTC leasehold tenure of 30 years (w.e.f. March 16, 1990), with an option to renew for another 30 years. Under the 2008 Master Plan, the site is zoned for “Business 1” use, with an allowable gross plot ratio of 2.5.
The subject property is a seven-storey, fully air-conditioned flatted factory. It has a total gross floor area of approximately 165,227 sq ft (subject to survey) and floor loading of 7.5kN per sq m and 12.5 kN per sq m. There are a total of three loading bays, two goods lifts and one passenger lift.
Mr Rimon Ambarchi, Executive Director of Industrial Services Asia at Colliers International, says, “This is an opportunistic buy, as an industrial development that is situated close to the city and made available for sale is indeed a rare find. Moreover, the subject development is located in proximity to both Alexandra Road and HarbourFront, which has undergone a major transformation into a business and recreation hub in the past few years.”
Mr Ambarchi continues, “The property also enjoys high visibility along the Ayer Rajah Expressway. Hence, given the property’s unique location and good condition, as well as the general buoyant sentiments experienced in the industrial property market, we expect to see keen interest in the subject property.”
The development is suited for clean and light businesses which require functionality and flexibility such as those in computer software development, assembly and repair of computer hardware and electronic equipment, distribution, packing and warehousing services, printing and publishing, among others.
Located in Telok Blangah, the subject development is well connected by roads leading to Ayer Rajah Expressway, and is a short drive from the Central Business District and the HarbourFront Precinct. It is surrounded by other conventional multi-storey industrial developments such as Telok Blangah Industrial Estate.