More than half the units at Gate+, the first strata-titled industrial development within the Tukang Innovation precinct, have been sold within two days of launch. As at May 24, 137 units (about 52%) of the project’s 265 units had been sold at an average price of about $660 psf.

The take-up at Gate+ follows robust demand seen at other recent industrial launches. Earlier this month, all 66 units at the freehold strata-titled industrial development CT Gold in MacPherson were sold within two days of launch.

“The strong sales performance reflects growing confidence in the industrial property market,” says Matthew Ong, CEO of SLB Development. Following the launch, SLB plans to release additional premium units in the coming weeks.

Read also: GATE+: New B2 space in emerging western industrial hub from $792,000

Gate+ is developed by SLB Development, jointly with Boustead Projects, KSH Holdings and Ho Lee Group. It sits on a 201,147 sq ft site with a maximum gross floor area (GFA) of 502,867 sq ft. Units are sold with a 33-year lease, slightly longer than the typical 30-year tenure offered by JTC.

Standard units on Levels 2 to 8 range from 1,615 sq ft to 2,820 sq ft, with prices starting from $792,000 ($522 psf).

The Grand Suites on the first level (the most premium in industrial developments) range from 2,174 sq ft to 2,971 sq ft and come with mezzanine floors. Prices start from $1.561 million ($718 psf).

Meanwhile, the Pent Suites on Levels 9 and 10 are duplex units ranging from 1,615 sq ft to 2,540 sq ft, with prices starting from $824,000 ($510 psf).

“The relatively low entry price and financing costs have made the decision easier for many end-users,” says Mark Yip, CEO of Huttons Asia.

According to Yip, many buyers are from the trading, engineering, marine, automotive and recycling industries.

The units are column-free to improve space efficiency, while the modular grid design allows owners to easily combine multiple units, he notes. Floor-to-floor heights of at least 6.1m also make the spaces suitable for a wide range of industrial trades.

The development is designed to efficiently accommodate logistics needs. Larger 40-ft container vehicles can unload goods at the loading and unloading bay on Level 1, while ramps provide 20-ft containers with direct access to individual units.

Gate+ is located near several major growth areas in western Singapore, including the Jurong Lake District. The Jurong Innovation District, Jurong Island and Tuas Checkpoint are all within a 15-minute drive, while Tuas Mega Port is about 30 minutes away.

The upcoming Tukang MRT Station on the Jurong Region Line will be about five minutes away by bicycle, while a bus stop is located at the project’s doorstep.

Also nearby is Taman Jurong Skyline, a large upcoming BTO project comprising 1,844 units launched in October 2024. The project could help broaden the employment catchment for businesses at Gate+ beyond Jurong, Bukit Batok, Clementi and Tengah.