Six contiguous strata-titled industrial units at Westech Building for sale
By Hailey Yu
/ EdgeProp Singapore |
October 25, 2022 7:56 PM SGT
SINGAPORE (EDGEPROP) - Six contiguous units totalling 12,314 sq ft in strata area at Westech Building are up for sale via expression of interest (EOI), according to a press release on Oct 25 from JLL, the sole marketing agent for the property.
Located at 237 Pandan Loop, Westech Building consists of an eight-storey, ramp-up block housing multiple light industrial tenants. It sits on a 999-year (effective March 31, 1885) leasehold land, and is zoned for business 2 - heavy industrial use.
Westech Building map view (Source: EdgeProp Research Inspector Tool)
The six strata-titled units are located on the lower floor, with sizes ranging from 1,410 sq ft to 2,895 sq ft. All the units have a ceiling height of 4.5m, a floor loading of 10.0 kN/sqm, and are fully renovated with air-conditioning units, false ceilings, and carpeted. They are adjacent to the car park level.
The indicative price for the units range from $8.6 million to $9.3 million, translating to an average price of $700 to $750 psf based on strata area.
Boon Leong Tan, executive director of logistics & industrial at JLL, expects the property to draw interest from qualifying office users of an industrial building. “The 999-leasehold tenure, large floor plate, and immediate move-in condition are attractive factors,” he adds.
Buyers have the option of purchasing the units with vacant possession, or on a sale-and-leaseback basis for a period of time.
The Pandan Loop area has a heavy concentration of factories and industrial developments. It is a short drive to Clementi MRT Station (on the East-West Line).
The EOI exercise on Nov 22 at 3pm.
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