SINGAPORE, 2 August 2021- Colliers (NASDAQ and TSX: CIGI), a global leader in commercial real estate services, announced that they will put a JTC Business-1 light industrial building for sale via an Expression of Interest (EOI) on Tuesday, 3th August 2021.
Image of 109 Defu Lane 10
The property is a 3-storey single user light industrial building located in the popular and well established Defu industrial estate. The property has a gross floor area of approximately 35,000 square feet and is situated on a leasehold land of approximately 41,700 square feet with a balance lease of about 21 years from JTC Corporation (“JTC”). It is generally in good condition and well maintained by its owner-occupier. Under the 2019 Master Plan, the property is zoned Business 1 with a Permissible Plot Ratio of 2.5. As the current property is underdeveloped, there is an opportunity to maximise the development potential into a new modern multi-storey industrial space of more than 100,000 square feet to be developed on the current site, subject to approval from relevant parties.
The property is easily accessible to the city and is well served by major expressways such as the Kallang-Paya Lebar Expressway and the Pan Island Expressway. The immediate location is mainly characterised by new developments like The Paradise Group headquarters as well as self-storage facilities operated by Mandarin and StorHub. The area has also seen the completion of a few data centres nearby in recent years.
“The Defu Industrial Estate has traditionally been very popular with industrialists due to its central location as well as its proximity to populous residential areas of Paya Lebar and Hougang. The property would attract interest from end-users looking to occupy their own corporate HQs and self-storage companies looking to expand or plant their footprint here due to its proximity to residential estates nearby,” said Steven Tan, Executive Director, Investment Services, who is handling the sale.
The EOI will close at 3 pm on Thursday, 9th September 2021.
The property is easily accessible to the city and is well served by major expressways such as the Kallang-Paya Lebar Expressway and the Pan Island Expressway. The immediate location is mainly characterised by new developments like The Paradise Group headquarters as well as self-storage facilities operated by Mandarin and StorHub. The area has also seen the completion of a few data centres nearby in recent years.
“The Defu Industrial Estate has traditionally been very popular with industrialists due to its central location as well as its proximity to populous residential areas of Paya Lebar and Hougang. The property would attract interest from end-users looking to occupy their own corporate HQs and self-storage companies looking to expand or plant their footprint here due to its proximity to residential estates nearby,” said Steven Tan, Executive Director, Investment Services, who is handling the sale.
The EOI will close at 3 pm on Thursday, 9th September 2021.
For more information, please visit our property listing on this JTC Business-1 light industrial building.
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