2013-03-17

Rare warehousing facilities that have flexibility in usage

International property consultant, Colliers International has been appointed by HC Design Pte Ltd as the exclusive marketing agent for the sale of its two multi-storey warehouses located adjacently at 21 and 23 Tampines Street 92.  The properties can be sold either jointly or separately. 

Interested parties are invited to submit their expression of interest by 30 April 2014, 12.00 pm. 

The two warehouses occupy a total site area of approximately 214,880 sq ft, which has a 30-year URA leasehold tenure w.e.f. 9 July 2007.  Under the 2008 Master Plan, the site is zoned for “Business 2” use, with an allowable gross plot ratio of 1.4.  There is no land rent payable for the site. 

Total indicative price for the subject property is approximately S$70 million.  

21 Tampines Street 92

Completed in June 2011, the development is a six-storey warehouse building with a total gross floor area of approximately 164,969 sq ft.  Featuring an avant-garde architectural façade that is distinctively recognisable along Pan Island Expressway, the property is ideal for use as a corporate headquarters building.  It is suitable for companies in the lifestyle/home furnishing, creative, media production, information technology and high-end automobile industries. 

23 Tampines Street 92

Built in January 2011, the development is an eight-storey warehouse building, specifically designed for light storage purpose.  It has a total gross floor area of approximately 132,837 sq ft and comprises four levels of direct access car parking space – a welcoming feature for industrial buildings.  The warehouse building is currently fully leased to two anchor tenants – Best Denki and StorHub. 

The ground floor of both developments can be used as showrooms, subject to relevant authorities’ approval.

Mr Tan Boon Leong (陈文龙), Executive Director of Industrial Services | Projects and Sales, says, “The subject property sits on an industrial site that is under the Government Land Sales (GLS) programme, making it the only GLS site available for sale in the immediate vicinity in recent years.  

Unlike other industrial developments built on GLS sites that are typically built and sold on a strata-titled basis, the appeal of the subject property is that it is being sold as an entire building.  This gives the successful buyer the option to use the buildings for own occupation or to lease out part of the buildings.”  

Mr Tan continues, “For buyers purchasing for own use, the properties have the flexibility to cater for their future expansion needs.  For those looking at purchasing for investment purpose, the subject property is an attractive buy at approximately S$235 per sq ft, based on the indicative price of S$70 million.”   

The warehouses are strategically located close to Tampines Regional Centre, Changi Business Park, Tampines Logistics Hub and Changi Airport and access to other parts of the island is via Pan Island Expressway, Tampines Expressway and East Coast Parkway, as well as Tampines and Simei MRT stations.  Its immediate surrounding area is predominantly light industrial buildings and warehouses.