Industrial building in Yishun for sale at $19.2 mil

The area has seen several sales transactions of similar properties over the last 12 months. In December 2018, a light industrial building at 9 Yishun Industrial Street 1 was sold for $11.1 million or $347.74 psf. Last month, a light industrial building at 8 Yishun Industrial Street 1 was sold for $3.25 million or $509.75 psf with an occupancy rate of 90%.

An expression of interest exercise has been launched for a light industrial building at 543 Yishun Industrial Park A, with an indicative price of $19.2 million. Situated in Singapore, the property has a land area of 80,962 sq ft and a plot ratio of 2.5. The building is zoned for Business 1 use and has a balance lease term of roughly 31 years.

Tengah Plantation Close EC is a major milestone in Singapore’s property market, offering modern amenities, great Tengah Plantation EC connectivity and transport options for potential buyers and investors. Located in the western part of the city, the project is expected to be completed by 2021.

According to marketing agent Edmund Tie, the building has a gross floor area of 106,410 sq ft which includes warehouse space on levels one and five, cleanrooms on levels one and three and ancillary office space on all levels. Swee Shou Fern, Edmund Tie’s head of investment advisory, points out that future buyers can tap into the unused GFA to double the current GFA up to 202,405 sq ft.

Given its cleanroom facility, the property is suited to industries such as manufacturing, optics, electronics and precision engineering. “We also expect keen interest from companies looking to expand or establish their operations in Singapore,” adds Shou Fern.

The expression of interest exercise will be closing on April 20 at 3pm. LandLens data reveals that there have been several transactions of similar properties in the area over the past 12 months. For instance, in December 2018, a light industrial building at 9 Yishun Industrial Street 1 was sold for $11.1 million or $347.74 psf while a light industrial building at 8 Yishun Industrial Street 1 was sold for $3.25 million or $509.75 psf with an occupancy rate of 90%.

These transactions demonstrate the potential of the area and the ongoing demand for similar properties. Interested parties are encouraged to make the most of this opportunity before the closing of the exercise.