Thursday, August 23, 2012

Depot Close industrial site for sale

Straits Times: Thu, Aug 23

AN INDUSTRIAL building at Depot Close is up for sale via an expression of interest.

The development is on a 70,162 sq ft site and has a JTC leasehold tenure of 30 years, which started in March 1990. It comes with an option to renew the lease for another 30 years.

The site has an allowable gross plot ratio of 2.5 and is zoned for use under Business 1 category of the 2008 Master Plan. This category includes clean and light industries, and businesses which require "functionality and flexibility" such as those dealing in computer software development, packing and warehousing services, printing and publishing.

The seven-storey building is fully air-conditioned, with three loading bays, two goods lifts and a passenger lift.

Mr Rimon Ambarchi, executive director of industrial services Asia at Colliers International, the marketing agent, noted the property is close to the city, near Alexandra Road and Harbourfront.

Keen interest is expected, given the site's location and condition as well as the buoyant sentiment in the industrial property market, he said.

Offers for the site must be in by 1pm on Sept 20.

Separately, a freehold factory near the junction of Sims Drive and Lorong 17 Geylang was sold for $43.18 million last week.

Mr Jeffrey Goh, head of investment sales at HSR, who brokered the deal, said: "Capital appreciation for industrial properties is among the most attractive in the real estate market right now.

"Freehold industrial properties are a much sought-after asset class for companies and investors switching into the industrial sector." 
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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