SINGAPORE, 3 July 2019 – Cushman & Wakefield has been appointed as the exclusive marketing agent for the sale of an industrial building at 17 Tai Seng Drive, Singapore, known as Yew Lee Building (the “Property”) valued at $23 million.
Located near Tai Seng MRT Interchange Station, the Property is located within the bustling industrial park and data centre cluster in Tai Seng area. The buildings in the immediate vicinity include DHL, Eu Yan Sang, Starhub and several data centres such as Equinix, Global Switch and China Mobile.
The Property is a purpose built 6-storey single user detached industrial building completed in 1990s. It has a land area of approximately 3,168.9 sq m with gross floor area of approximately 6,504.3 sqm. Sitting on JTC land, it has a leasehold tenure of 30+30 years commencing from 1 February 1993 (balance of approximately 34 years). Under the draft Master Plan 2019, the site is zoned as “Business 2” with a plot ratio of 2.5.
According to Mr Lynus Pook, Director of Commercial/Industrial at Cushman & Wakefield, “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.
Mr Pook added, “The Property will be sold on a vacant possession so that the purchaser can take immediate possession to carry out their plans which might include redevelopment or refurbishment given that it has unutilized plot ratio.”
The Property is being put up for sale by an Expression of Interest (“EOI”), closing on 6 August 2019, Tuesday at 2.00pm.
For further Information, please contact:
Director, Commercial/ Industrial
+65 9337 3217
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