The freehold property at Kim Chuan Lane that can be redeveloped into a six-storey, multiple-user food factory (Photo: ERA)
SINGAPORE (EDGEPROP) - A factory building on a 15,761 sq ft, freehold industrial land at 7 Kim Chuan Lane is on the market for sale by expression of interest (EOI). ERA Realty Network, the exclusive marketing agency for the property, has indicated a guide price of $43 million.
The site is zoned business 2 (industrial) at a plot ratio of 2.5. Provisional permission has been granted for the site to be redeveloped into a six-storey, multiple-user food factory with a potential gross floor area of about 39,000 sq ft.
The property at Kim Chuan Lane is accessible via Upper Paya Lebar Road. It is close to the Tai Seng area where the headquarters of BreadTalk, Charles & Keith and Sakae Sushi are located. The Tai Seng MRT station on the Circle Line is the nearest.
The property has the potential for redevelopment and subdivision into a strata-titled industrial development. “The strata-titled units will appeal to food companies who prefer food factories located in the city fringe area, as they can deliver products to the city centre within a short timeframe,” says Steven Tan, managing director of ERA capital markets and investment sales.
The property will be sold with vacant possession, with the EOI exercise closing on June 7.