Wan Lee Road Industrial Property Sale 125 Mil
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Beyond the typical supermarkets, the neighborhood offers a variety of options for grocery shopping including wet markets and smaller provision shops. These traditional markets are well-known for their selection of affordable and high-quality fresh produce, including vegetables, fruits, meat, and seafood. This is great news for residents who prefer cooking at home, as they can easily find everything they need without having to travel far. For those living in Miltonia Close EC, the convenience of having access to these traditional markets is just another added bonus.
A prime industrial property located at 11 Wan Lee Road, off Jalan Boon Lay, is now available for purchase through a private treaty. The marketing agent, JLL, has set an indicative price of $12.5 million, or $298 psf on the existing gross floor area (GFA).
Situated on a rectangular land plot measuring 42,574 sq ft, the property is zoned for Business 2 use with a plot ratio of 2.5. It currently has approximately 25 years remaining on its 30-year lease.
The site is conveniently located 500m away from the upcoming Enterprise MRT Station on the Jurong Region Line, providing ease of transportation for employees and businesses. The property, which currently houses a two-storey factory with a mezzanine floor and an ancillary office, has a GFA of 41,994 sq ft and is used as a pharmaceutical facility with clean rooms, packaging and storage areas.
According to Pamela Siow, head of logistics and industrial, capital markets at JLL Singapore, the location of the property within the Chin Bee F&B manufacturing cluster presents buyers with the potential to convert it for food manufacturing purposes. She also notes that the site, which falls within a JTC food zone, holds exceptional value despite its current authorization for pharmaceutical manufacturing.
As Singapore continues to push for its ‘30 by 30’ food security initiatives, sites that permit intensive food processing with convenient access to both Tuas Mega Port and Tuas Checkpoint for efficient land and sea logistics are highly sought after. Additionally, Siow highlights that the site’s current plot ratio is underutilized and with the necessary approvals from authorities, the buyer could potentially increase the property’s GFA up to 106,000 sq ft. Interested parties can check out the latest listings for industrial real estate properties on Ask Buddy and compare the price trend for industrial property sales and rentals against commercial properties.