Large industrial site in Ang Mo Kio up for sale

By Lin Zhiqin / JLL, The Edge Property | May 13, 2015 3:46 PM SGT
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A major Japanese semiconductor company has appointed JLL as the exclusive marketing agency for a large industrial site at 38 Ang Mo Kio Industrial Park 2.
The site of approximately 177,604 sq ft has a gross floor area (GFA) of approximately 341,539 sq ft and a balance tenure of approximately 26 years. The site is zoned Business 2 and consists of three buildings and one annex.
There have been only two sizable transactions in the Ang Mo Kio Industrial Park 2 since 2012, among which was 14 Ang Mo Kio Industrial Park 2 which was transacted by JLL in 2012 for $24.3 million, with a balance tenure of approximately 27 years. The other was 26 Ang Mo Kio Industrial Park 2 which was caveated at $11.1 million in 2013, with a balance tenure of approximately one year.
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Mr Nicholas Ng, Local Director of Investments at JLL commented that the vendors are looking at a price of more than $55 million, or above $160 psf on GFA. The property will be sold by expressions of interest which will close at 3pm on 25 June 2015.
38 Ang Mo Kio Industrial Park 2
38 Ang Mo Kio Industrial Park 2

Source: JLL


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