Industrial building in Tai Seng for sale at $23 mil

By
/ EdgeProp
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July 3, 2019 5:08 PM SGT
A six-storey industrial building at 17 Tai Seng Drive, also known as Yew Lee Building, is on the market for $23 million, announced the sole marketing agent Cushman & Wakefield.
The property is a purpose-built, single-user, detached industrial building. It has a gross floor area of about 70,011.6 sq ft, and sits on a JTC-owned plot of 34,109.7 sq ft. The land has a leasehold tenure of 30+30 years from Feb 1, 1993, and has 34 years left on its lease. The site is zoned for Business 2 use with a plot ratio of 2.5 under the 2019 Draft Master Plan.
Yew Lee Building at 17 Tai Seng Drive is a six-storey industrial building (Picture: C&W)
“The immediate vicinity has seen a buzz of transaction activities with most of the buildings snapped up by institutional investors such as China Mobile, Ascendas-Singbridge, Starhub and Mapletree Industrial Trust to convert into data centres,” says Lynus Pook, director of commercial/industrial at C&W. Other buildings close by include those of DHL, Eu Yan Sang, and several data centres such as those of Equinix and Global Switch.
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The property will be sold with vacant possession. This allows the buyer to take immediate possession to carry out any redevelopment or refurbishment plans, especially given its under-utilised plot ratio, says Pook.
The expression of interest exercise will close on Aug 6.