SINGAPORE (EDGEPROP) - Guthrie Engineering Building, a four-storey industrial building at 6 Aljunied Avenue 3, off Paya Lebar Road, is up for sale via private treaty at an indicative price of $29 million.

The property sits on a 68,500 sq ft B1 industrial site with a plot ratio of 2.5 and a remaining tenure of 21 years.

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The building, comprising warehouse space on the ground floor and air-conditioned business space on the upper floors, has a gross floor area (GFA) of 110,018 sq ft. “The incoming owner may explore tapping on the underutilised plot ratio to enjoy a potential built-up area of approximately 171,250 square feet or re-position the asset to attract hi-specs industrial users,” says CBRE, who is marketing the property.

The property also has a carpark with 102 lots and two cargo lifts with access to all four levels.

Graeme Bolin, CBRE’s head of occupier and leasing, industrial and logistics services, points out that the property is a rare offering given its size and location within the city fringe. “The under-utilised plot ratio would appeal to buyers who want to capitalise on its redevelopment potential,” he adds.

The building is located about 400m from Paya Lebar MRT Station, which is an interchange for the Downtown and East-West Lines.

Check out the latest listings near Guthrie Engineering Building, Paya Lebar MRT Station