Cushman & Wakefield (NYSE: CWK), as the exclusive marketing agent for the vendor is pleased to present to interested parties the opportunity to acquire a large 5-Hectare industrial site with warehouse and production space located in Gul vicinity.
The development enjoys excellent locational attributes with redevelopment or asset enhancement potential. Located within walking distance to Gul Circle MRT station, as well as proximity to key infrastructures such as Tuas Checkpoint, Jurong Island, Jurong Innovation District (JID) and the new Tuas Mega Port, it has a large site area of approximately 549,251 sqft and an existing gross floor area (GFA) of approximately 359,926 sqft. The development has a potential built-up area to go up to 768,951 sqft and it had an asset enhancement works done towards the end of 2022 with a facelift on their office interior design.
Nestled on a regular-shaped land plot, the property will be ideal for prime logistics or large manufacturing facility and thus will be appealing to production / manufacturing plant, high-tech manufacturers, 3rd party logistics or warehouse users.
The recovery of Singapore’s manufacturing economy bodes well for industrial demand. Manufacturing output grew 3.8% yoy in February, with most clusters including the electronics, biomedical and chemicals clusters recording output growth. Additionally, the Singapore Purchasing Managers’ Index (PMI) remains in expansion territory for the sixth consecutive month in February. Against this backdrop, Singapore industrial rents are expected to remain on an upward trajectory. Singapore overall industrial rents grew by 8.9% in 2023 and have risen for 13 consecutive quarters.
Ms Brenda Ong, Executive Director, Logistics & Industrial Markets at Cushman & Wakefield said
“Rarely does a sizable land plot becomes available in land-constrained Singapore, presenting a unique opportunity for end-users with substantial space requirements. The site is particularly ideal for high-tech manufacturing facilities in new economy sectors such as Biotechnology, Advanced Equipment Manufacturing, New Energy, Advanced Materials, and New Energy Vehicles, which prioritize automation and technology-driven production. It would also appeal to core engineering sectors, electronics, or 3rd-party logistics, looking to better control occupancy costs and expand their operations in the west region of Singapore, which will see several exciting infrastructure and commercial developments over the mid-long term.”
The sale will be conducted via an Expression of Interest exercise that closes on Tuesday, 30 July 2024, at 3pm (SGT).
For more information, please visit Cushman & Wakefield Singapore's Logistics and Industrial Services page.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
