Guang Ming Industrial Building up for en bloc sale

PropertyGuru

4 January 2013 at 5:56 am

by Cheryl Tay

The freehold Guang Ming Industrial Building (pictured) located at 65 Upper Paya Lebar Road is up for collective sale, according to marketing agent Cushman & Wakefield. Zoned "white", the site offers a land area of 19,789 sq ft and is one of the few prime sites available for development along Paya Lebar.

Given its size and location, the site could draw strong interest, particularly from small to mid-sized developers, as well as companies keen on developing the site into headquarters. The building could fetch an expected sale price of S$58 million, noted C&W.

With its maximum allowable plot ratio of 3.5, the winning developer could yield up to 70,000 sq ft in gross floor area (GFA), including 20,000 sq ft for retail and commercial use.

"Industrial sites in prime locations such as Tai Seng and Paya Lebar located within a stone's throw from the MRT are limited edition sites. The special 'white zoning' of the site will give an added boost to the its development potential," commented Christina Sim, Director of Investment Sales at C&W Singapore.

The tender for the sale will close on 5 February.Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@allproperty.com.sg Related Stories:Expand allowable uses for industrial premises: analystSingPost acquires Lock+Store Industrial rents to continue holding firm next year: DTZ

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