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News Release

Singapore

Rare Industrial Development within the Pandan Food Zone Area up for sale

Sale by Expression of Interest closing on 16th April 2014


​SINGAPORE, 3 March 2014 – Jones Lang LaSalle is the exclusive marketing agent for the sale of 215 Pandan Loop, a high quality corporate office and factory located within the JTC Food Zone in Pandan Loop.

The asset consists of a 4-storey office cum R&D laboratory building and a single storey with mezzanine floor production factory with cold rooms. It has a gross floor area (GFA) of approximately 90,762.6 sq ft, sitting on a site of approximately 100,070.90 sq ft and tenure of about 18 years remaining. The property is zoned for Business 2 use, with a plot ratio of 2.5.

Prominently located at the junction of West Coast Road and Pandan Loop, the site boasts excellent accessibility to a network of roads including the Ayer Rajah Expressway (AYE) and West Coast Highway.

Mr Nicholas Ng, Local Director of Investments at Jones Lang LaSalle, comments: "This asset was occupied by a well-established global company for the production of flavour. They have since expanded and moved into a new larger facility to cater to their increased space requirement."

Factories within the Food Zone are limited in supply and rarely put up for sale. There is also limited supply of food zone factories for sale in the recent JTC list of Government Land Sales sites. Therefore, this will be a unique opportunity now to acquire this quality unit which is strategically located within the JTC Food Zone."

"The factory would be a good fit for companies looking to expand in an area with established infrastructure that is centrally located to their customers and the port. The current facility also has the potential to be refurbished and redeveloped to maximise its plot ratio by an additional 159,414.7 sq ft of GFA. The asking price for the subject property is $17 million."

The property will be sold by Expression of Interest and will close at 3pm on 16 April (Wednesday) 2014.

 

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