Industrial building in Leng Kee for sale at $49 mil
The six-storey industrial building has dual frontages along Chang Charn Road and Hoy Fatt Road, within the Lee Keng automotive cluster (Picture: ETC)
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A six-storey industrial building at 1 Chang Charn Road in the Leng Kee area is up for sale via an expression of interest (EOI) exercise with a guide price of $49 million. The price works out to $599 psf on the building’s existing gross floor area of approximately 81,836 sq ft. The property, known as OC Building, serves as the corporate office for auto finance dealer Orchard Credit.
The standalone building sits on a corner site with dual frontages along Chang Charn Road and Hoy Fatt Road. Spanning an area of 29,720 sq ft, the land is zoned for Business 1 use with a plot ratio of 2.5. It has a remaining tenure of about 31 years, says ETC, which is marketing the property.
The firm adds that the site is located within the established Leng Kee automotive cluster. The ground floor of the building is currently occupied and used as a car showroom, while the upper floors are configured for media production, warehousing and ancillary office uses.
“Beyond its immediate suitability for showroom use, the building’s regular and spacious layout and floor plates provide flexibility for adaptive reconfiguration to meet a range of operational and business needs,” says Swee Shou Fern, head of investment advisory at ETC, a member of Realion Group.
The property is about 500m from the Redhill MRT Station on the East-West Line.
The EOI will close on May 6 at 3pm.
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