SINGAPORE – Two industrial properties nestled along the popular Leng Kee car showroom belt have been put up for sale by Expression of Interest (EOI).
Located at 3 Leng Kee Road and 19 Leng Kee Road, the industrial buildings sit alongside showrooms for Lamborghini, Ferrari, Maserati, BMW, Mercedes, Porsche, Volkswagen, Audi, and Toyota, amongst other well-known brands. Both buildings are jointly and exclusively marketed by Knight Frank Singapore and Yeo & Yeo Properties.
Redhill MRT station and matured housing estates in the vicinity are within a brisk 5-minute walk to the properties. No ground rent is payable for either property.
3 Leng Kee Road
The property at 3 Leng Kee Road is a 2-storey workshop/showroom cum office building with a land area of 1,506.6 sq m (approximately 16,216.89 sq ft) and floor area of 1,372.94 sq m (14,778.19 sq ft). It is currently under light industrial use, with a car showroom and workshop on the ground level and a balance leasehold of 33 years. The standalone, detached building is currently tenanted by Stuttgart Auto Pte Ltd. The guide price for the property at 3 Leng Kee Road is S$15 million
19 Leng Kee Road
At 19 Leng Kee Road, the property is a 5-storey showroom cum factory building with a half-basement carpark. The property has a land area of 1,358 sq m (approximately 14,617.38 sq ft) and floor area of 2,696.76 sq m (approximately 29,027.65 sq ft). The building has a balance leasehold of 35 years.
According to the Master Plan 2014, the site is zoned “Industrial (B1)”, with an allowable Gross Plot Ratio of 2.5. Future owners can repurpose the space for various uses, such as for furniture/electronics display on the ground level, self-storage, car accessory businesses or even for eCommerce. The guide price for the property at 19 Leng Kee Road is S$23 million.
Tan Boon Leong, Head of Industrial, Knight Frank Singapore, shares, “For qualifying industrial users, especially those in the automobile industry, this is an opportune time to own a corporate building. Due to its size, this might also attract more prestigious, branded dealers and distributors.
“The superb location right next to Redhill MRT station, plus a ready pool of labor from the nearby catchment of residential developments, will definitely enhance the value of the properties in the median term.”
The EOI for both Leng Kee Road properties will close on 3 December 2019, at 3.00 pm.
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