Cushman & Wakefield, the appointed marketing agent for the vendor, is pleased to present interested parties with the opportunity to acquire a prime freehold 6-storey light industrial development located at 243 Alexandra Road. This modern property sits on approximately 14,753 sqft of land and offers a total gross floor area of 36,883 sqft. The building consists of factory units, ancillary office space, a basement car park, and a communal roof terrace.
Completed in 2020, this pristine development is strategically located along the well-connected Alexandra Road, offering excellent frontage and visibility. It is within walking distance to Redhill and Queenstown MRT stations and bus stops, ensuring superb accessibility and convenience for employees and tenants., The development is also surrounded by residential estates and a variety of amenities, including shopping centres, retail outlets, and dining options, enhancing its appeal.
Key features of the property include abundant natural light, high ceiling heights, and individually controlled air-conditioning, creating an optimal environment for diverse businesses.
The value of freehold industrial properties is bolstered by their rarity, with only about 5% of industrial land in Singapore classified as non-JTC freehold land. JTC data indicates that B1-factory rents and prices have been on an upward trajectory since Q3 2020, with cumulative increases of 25% and 31%, respectively. This strong rental growth and price appreciation reflect robust demand in the industrial market.
"With its pristine condition, this development along the prime Alexandra Road stretch, will be appealing to investors and owner-occupiers alike for its excellent locational attributes, functional spaces, and versatile features. This trophy asset presents a rare opportunity for investors to leverage on the resilient industrial market, while also appealing to light industrial or high-tech companies seeking a city-fringe location to co-locate their corporate headquarters with their industrial operations.” said Brenda Ong 王俐頻, Executive Director of Logistics & Industrial at Cushman & Wakefield. "This is a rare opportunity to acquire one of the limited freehold sites with private ownership in the area, making it a highly desirable asset.”
The property is available for sale via private treaty, with an indicative price of $68 million.
For further enquiries or to schedule a viewing, please contact Cushman & Wakefield, Singapore.
For more information, please visit Cushman & Wakefield Singapore's Logistics and Industrial Services page.