Freehold Industrial Development Alexandra Road Sale 68 Mil
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Cushman & Wakefield, the exclusive marketing agent, has recently listed a freehold light industrial development located at 243 Alexandra Road for sale by private treaty. This prime property, with an indicative price of $68 million, presents an excellent investment opportunity for potential buyers.
Completed in 2020, the six-storey development boasts a modern design and comprises of factory units, ancillary office space, a basement car park, and a communal roof terrace. With a total land area of 14,753 sq ft and a total gross floor area of 36,883 sq ft, the property offers ample space for diverse businesses.
According to Cushman & Wakefield, the property’s high ceilings and individually controlled air conditioning make it an ideal location for various industries. Situated within walking distance of Redhill and Queenstown MRT Stations, as well as bus stops, the property also provides easy access to residential estates and a range of amenities including shopping centres, retail outlets, and dining options.
Brenda Ong, Executive Director of Logistics and Industrial at Cushman & Wakefield, describes this offering as a rare opportunity to acquire one of the few privately owned freehold sites in the area. This is particularly significant as only 5% of freehold industrial land in Singapore is not managed by JTC.
Moreover, data from JTC shows that B1-factory rents and prices have steadily increased, with a rise of 25% and 31% respectively since 3Q2020. This strong rental growth and price appreciation reflect the robust demand in the industrial market.
Ong also notes that this building will attract interest from both investors and owner-occupiers. She adds, “This trophy asset presents a rare opportunity for investors to capitalize 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.”
In conclusion, this freehold light industrial development at 243 Alexandra Road presents a unique investment opportunity due to its prime location, modern facilities, and high potential for rental growth and price appreciation in the industrial market. Interested buyers are encouraged to act swiftly to seize this rare opportunity.