An opportune investment has given the e-commerce boom which is reshaping the logistics sector
SINGAPORE – CBRE, as the exclusive marketing agent, is launching Space@Tampines, a joint development by mainboard-listed firms, Oxley Holdings Limited and
Lian Beng Group Ltd, for sale via an expression of interest exercise.
Located at 18 Tampines Industrial Crescent, Space@Tampines is integrated seven-storey ramp-up e-commerce and logistics development comprising 24 showroom units and a food court on the ground level, and 59 units from levels two to seven that are suited for warehousing and businesses in e-commerce, and clean and light industries.
The development sits on a 417,645 square foot site that is zoned for “Business 2” use and offers a total gross floor area of approximately 709,263 square feet.
Prominently situated at the junction of Tampines Expressway and Tampines Avenue 10, Space@Tampines enjoys high visibility and is the focal point of a retail, industrial and residential hub.
It is within walking distance to IKEA Tampines, COURTS Megastore and Giant Hypermarket, and is also a short drive from Tampines Regional Centre and Pasir Ris Town.
Mr Rimon Ambarchi, Executive Director of Industrial and Logistics Services at CBRE, said, “This is a secure and high yielding investment opportunity for investors. The property is strategically sited in the center of five major residential estates boasting a population of more than 1.1 million. This catchment, along with Singapore’s continued e-commerce boom which is set to grow 2.8 times in the next 5 years, will amplify Space@Tampines’ position as an ideal last mile solution. The location is also expected to receive a boost from the draft Master Plan 2019 which has identified the relocation of the Paya Lebar Air Base, progressively transforming the area into a highly livable and sustainable new town.”
The expression of interest closes on 30 August 2019 at 12 pm.
This article is contributed by CBRE.