A strategically located B1 site with re-development potential at Bedok Reservoir Road, Singapore for Sale

Marketers Media Newswire 21-Mar-2024 5:24 AM

Singapore - March 19, 2024 —

CBRE, as the appointed exclusive marketing agent, is offering for sale a 3-storey industrial building at 2306 Bedok Reservoir Road that sits within an established and premium industrial zone close to Bedok New Town and Tampines Wafer Fab Park. 

Sitting on a 107,250-square-foot site with a remaining tenure of 25 years (30 years w.e.f. 1 August 2019), the industrial development has a total gross floor area of approximately 128,877 square feet.  

Under the Master Plan 2019, the site is zoned for "Business 1" use with a plot ratio of 2.5. The incoming owner may explore tapping on the underutilized plot ratio to enjoy a potential built-up area of approximately 268,125 square feet or re-position the asset to attract hi-specs industrial users.

The development consists of a ground floor warehouse space and an air-conditioned production and business space on the upper floors with good specifications, including an existing high power of 870 kW. It also includes a carpark with prominent signage opportunities. The property includes two cargo lifts which have access to all levels.

At an indicative price of S$26 million, the sale will be via a private treaty. 

Mr Graeme Bolin, Head of Occupier and Leasing, Industrial and Logistics Services, says, "Considering the lack of large sites in Singapore's eastern region, 2306 Bedok Reservoir Road is a rare offering. The subject property will appeal to owner-occupiers looking for presence in an accessible and established hi-specs industrial cluster, as well as its excellent branding opportunities. We expect interest from industrialists in life sciences, advanced manufacturing, hi-tech, and semi-conductor sectors too. The under-utilised plot ratio would appeal to buyers looking for redevelopment potential."

He adds "The positive outlook for Singapore's manufacturing sector will underpin demand for quality production and warehouse space. We are optimistic that 2306 Bedok Reservoir Road presents a timely opportunity for investors and owner-occupiers alike, considering that the surrounding buildings are experiencing high occupancy levels and positive rental growth, coupled with constant demand for space from tenants. The property will be particularly attractive because of its accessibility to a host of amenities in prominent developments nearby such as Bedok Mall and HomeTeamNS Bedok Reservoir Clubhouse. It also enjoys immediate access to a pool of workers from the nearby residential areas."

2306 Bedok Reservoir is well connected to other parts of Singapore via public and private transportation and is just 11km away from the city centre. Bedok North MRT station that sits on the Downtown line is within walking distance. Bus services can also be found along Bedok North Road, which also leads to the nearby Pan-Island Expressway (PIE) and Bedok North Flyover.
 

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Release ID: 89124830

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