SINGAPORE – CBRE is pleased to be appointed as the exclusive marketing agent for the sale of 10 Jalan Kilang, located off Jalan Bukit Merah.
The sale will be by way of an Expression of Interest exercise which is slated to close on 5 April 2019.
10 Jalan Kilang is an eight-storey light industrial development with a roof terrace and a basement carpark, offering a total gross floor area of approximately 59,236 square feet. The development sits on a 20,584-square-foot site that is zoned for “Business 1” use with a plot ratio of 2.5. The site has a balance lease of 42 years.
Mr Rimon Ambarchi, Executive Director of Industrial and Logistics Services at CBRE is confident that the property will appeal to both private and institutional investors. “The subject property generates a strong and stable yield due to its high-quality tenancy mix. Based on a net lettable area of approximately 47,824 square feet, the building is currently 80% tenanted comprising companies from the electronics, biomedical, information technology, shipping and trading sectors, among others. Coupled with this stable rental income, the property’s fringe CBD location with a prominent frontage along Jalan Bukit Merah will attract strong investor interest.”
Mr Ambarchi adds, “This sound investment opportunity provides immediate cashflow and rental upside. Subject to authorities’ approval, the successful buyer can also consider selling the units on a strata-title basis.”
The building is easily accessed through a wide variety of public transport nodes, with a bus stop located directly at the doorstep and Redhill MRT station in close proximity.
The vicinity of 10 Jalan Kilang comprises a mixture of purpose-build single-storey factories, flatted factories and public housing flats.
Nearby prominent developments include Dadlani Industrial House, ECentre @ Redhill, Pacific Health Care Nursing Home, Pacific Tech Centre, Panasonic Building and Redhill Forum. There is easy vehicular access to major arterial roads and the Ayer Rajah Expressway.
The article is contributed by CBRE.