A three-story prime industrial property located at 21 Bukit Batok Street 22 is up for sale via private treaty with a guide price of $18 million, according to a press release by CBRE.
The property is situated on a plot spanning about 40,901 sq ft and offers a gross floor area (GFA) of about 64,548 sq ft. With a land tenure expiring in 2051, the property has about 26 years remaining on its lease. Therefore, guide price translates to $279 psf based on GFA.
The building spans 18,872 sq ft across levels 1, 2 and 3 while a mezzanine level between levels 1 and 2 takes up 7,931 sq ft. Ceiling heights across the building range from 3.3m to 4.2m. The site also includes 20 parking lots.
Under URA’s 2019 Master Plan, the site is zoned Business 1 with a plot ratio of 2.5. Thus, the site could potentially accommodate a maximum built-up area of about 102,253 sq ft, offering a substantial redevelopment opportunity for incoming buyers.
“The demand for high-quality industrial facilities remains robust, driven by strong leasing activity in the logistics and wholesale trade sectors,” says Graeme Bolin, Head of occupier and leasing, industrial and logistics services at CBRE. “21 Bukit Batok Street 22 is designed to support light manufacturing and production activities, offering convenient connectivity to major expressways and public transportation options.”
The site is situated close to major motorways such as the Pan-Island Expressway and is within walking distance from Bukit Batok MRT Station along the North South Line.
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