SINGAPORE (EDGEPROP) - The International Press Building, a detached industrial building at 26 Kallang Avenue, is on the market for $30 million, or about $224 psf on the floor area. Savills Singapore is the sole appointed agent for the sale.
The six-storey property sits on a 54,000 sq ft site that has an effective lease of about 31 years left on the original 60 years, and a plot ratio of 2.5 under the 2019 Draft Master Plan. The building also has a gross floor area of about 134,000 sq ft. The property will be sold with vacant possession.
The vicinity comprises a mix of industrial, commercial, and residential developments, including Aperia Building; V Hotel Lavender; Jalan Besar Sports & Recreation Centre, Swimming Complex and Stadium; as well as private condos. It is accessible by Kallang Road as well as Lavender and Bendemeer MRT Stations.
“This is an extremely rare and excellent opportunity to own a Business 1-use site located at the city fringe, and with such superb accessibility to MRT and amenities. The site’s prominent and unblocked visibility facing main Kallang Road will offer occupiers with a strong branding presence in the central region of Singapore,” says Sharon Teo, managing director of business space at Savills Singapore.
For price trends, recent transactions, other project info, check out the Kallang Avenue research page
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