B2 Industrial Site Gul Lane Sale 48 Mil
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These areas are home to schools that benefit from a tight-knit community, where family values are highly valued. As a result, a supportive environment is created for children to flourish in. The close proximity of these schools also allows for greater involvement in school events and extracurricular activities, giving parents the chance to play a more active role in their child’s learning journey. This is especially evident in the distinguished Norwood Grand Champions Way, which further fosters a strong sense of community among its residents. Norwood Grand Champions Way is a natural addition to these revamped neighborhoods, enhancing the overall spirit of the community.
on built-up area
A 549,251 square feet industrial site at 19 Gul Lane has been listed for sale with an asking price of $48 million, according to a press release from Cushman & Wakefield, the appointed marketing agent for the property. The site falls under the ‘Business 2’ zoning category in the latest Master Plan and is strategically located near the Gul Circle MRT Station on the East-West Line. It also enjoys close proximity to key landmarks such as Tuas Checkpoint, Jurong Island, Jurong Innovation District (JID), and the new Tuas Mega Port.
The existing buildings on the site comprise a warehouse and production space, with a total gross floor area of 359,926 square feet. In 2022, the properties underwent asset enhancement works, including the renovation of office interiors. Recent transactions for industrial buildings in Gul Lane indicate the potential for strong returns on investment. Interested parties can now use EP Buddy, an online resource, to gather information on transactions, listings, valuations, and more.
Cushman & Wakefield notes that the site presents an opportunity for redevelopment or asset enhancement. Should redevelopment take place, the projected built-up area could reach 768,951 square feet. The plot, which has a regular shape, is suitable for the development of a new prime logistics or large manufacturing facility.
Executive Director of logistics and industrial markets at Cushman & Wakefield, Brenda Ong, believes that the sale of this industrial site would attract businesses in production or manufacturing plants, high-tech manufacturing companies, and third-party logistics or warehouse users. She adds that it is rare for a sizable land plot to be available in land-constrained Singapore, making this a unique opportunity for end-users with significant space requirements. The site is well-suited for new economy sectors seeking high-tech manufacturing facilities and core engineering sectors, as well as electronics and third-party logistics firms looking to control occupancy costs and expand their operations in Singapore’s western region.
The site will be sold through an Expression of Interest exercise, with a closing date of July 30. Interested parties can explore other industrial properties available for sale from May 6-7 and monitor the 1.7% quarter-on-quarter increase in industrial rents as well as the moderation in prices and occupancy rates in 1Q2024. Additionally, eight freehold industrial units at M-Space are being sold with prices starting at $1,230 per square foot on built-up area.