SINGAPORE – – Knight Frank Singapore is pleased to announce the launch of the sale of 14 Genting Road, a freehold industrial “B1” development, by Expression of Interest (EOI).
The 5-storey industrial building houses production areas on levels 1 to 3 and secondary workers’ dormitories on levels 4 and 5, which comprise a total of 68 beds. The property sits on site area of approximately 5,758 sq ft, with a gross floor area of approximately 16,943 sq ft.
Under the 2014 Master Plan, the site is zoned “Industrial (B1)”, for clean and light industrial usage, with a permissible Gross Plot Ratio of 2.5.
It is currently approved for use as a secondary workers’ dormitory and may also be used by end users from clean and light industries requiring production, storage and/or ancillary office spaces.
Mr Tan Boon Leong, Executive Director and Head of Industrial, Knight Frank Singapore, says, “Investors may find this property appealing as it not only gives them immediate rental income upon completion of the sale, they also have the opportunity to further improve rental yields by leasing out the remaining space.”
14 Genting Road is an exclusive B1 site conveniently located near several matured industrial estates areas, including MacPherson, Aljunied, Kallang, Tai Seng, Kim Chuan and Ubi. It is situated in good proximity to the city centre and enjoys easy access to major arterial roads and expressways via the Pan Island Expressway.
The site has an indicative asking price of S$15.9 million, which translates to a land rate of approximately S$938.44 psf ppr.
The EOI for 14 Genting Road will close on 13 March 2019, at 3.00 pm.