An industrial property located at 11 Wan Lee Road, off Jalan Boon Lay, is up for sale by private treaty. The property has an indicative price of $12.5 million, or $298 psf on the existing gross floor area (GFA), says marketing agent JLL.
The building sits on a rectangular land plot measuring 42,574 sq ft that is zoned for Business 2 use with a plot ratio of 2.5. The land has about 25 years remaining on its 30-year lease.
The site is 500m away from the upcoming Enterprise MRT Station on the Jurong Region Line (Picture: EdgeProp LandLens)
A two-storey factory with a mezzanine floor and an ancillary office currently occupies the site. The property has a GFA of 41,994 sq ft. It is currently used as a pharmaceutical facility that includes clean rooms, packaging and storage areas.
Pamela Siow, head of logistics and industrial, capital markets at JLL Singapore, highlights that the site is located within the Chin Bee F&B manufacturing cluster, offering buyers the potential to convert the property for food manufacturing. “Its position within a JTC food zone, despite current authorisation for pharmaceutical manufacturing, makes it exceptionally valuable,” she says.
Siow adds: “As Singapore pursues its ’30 by 30′ food security initiatives, sites permitting intensive food processing with convenient access to both Tuas Mega Port and Tuas Checkpoint for efficient land and sea logistics are increasingly desirable.”
She also points out that the Wan Lee Road site’s current plot ratio is underutilised. Subject to approval from authorities, the incoming buyer can potentially increase the property’s GFA up to 106,000 sq ft.
