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Portfolio of terrace factory units in Mandai Estate for sale at $18 million

by • January 7, 2021 • Industrial PropertyComments (0)106

The portfolio of terrace factory units in the Mandai Estate industrial cluster have a combined land area of about 13,945 sq ft and a total built-up area of about 17,233 sq ft

  • Zoned in Business 2 and strategically located in the Mandai Estate industrial cluster, this rare portfolio of terrace factory units are well-suited for long term investment

Colliers International announced on 6 January that it has been appointed as the exclusive marketing agent for 94 & 96 Mandai Estate, an industrial property located in District 25. The sale will be by way of an Expression of Interest (EOI) which will close on Tuesday, 2 February 2021 at 3 pm.

The portfolio of terrace factory units comprises both an intermediate and a corner terrace factory units. The freehold factory units have a combined land area of about 13,945 sq ft and a total built-up area of about 17,233 sq ft, which is below the allowable maximum gross floor area of 34,864 sq ft. According to the Master Plan 2019, the site is zoned Business 2 at Plot Ratio 2.5.

The portfolio of terrace factory units is strategically located in the Mandai Estate industrial cluster, close to the Sungei Kadut industrial estate that is undergoing major rejuvenations to be the first local eco-district in an industrial estate.

The upcoming Sungei Kadut MRT Interchange serving the North South Line and Downtown Line is slated for completion in mid 2030s and is within close proximity. Well-connected by major arterial roads and expressways, the property is just a 10-minute drive away from Woodlands Checkpoint.

Mr Steven Tan, Senior Director of Investment Services at Colliers International, said, “These freehold industrial properties are well-suited for long term investment and offers flexibility to buyers who wish to utilize on the untapped GFA potential to redevelop the properties in the future.”

Mr. Tan added, “It is rare to find freehold factory units that are zoned in Business 2 and the sale of these units are not subject to JTC’s approval.”

The two-storey terrace factory units are currently tenanted and to be sold with existing tenancies. The indicative price for these two terrace factory units is S$18 million.

The EOI for the portfolio of terrace factory units will close on Tuesday, 2 February 2021 at 3 pm.

The JTC Corporation (JTC) announced in February last year that Sungei Kadut Eco-District will be reimagined as an eco district to attract new industries and develop new capabilities. To cater to the fast changing needs of the manufacturing industry, plans are underway to ensure one of Singapore’s oldest industrial estate continues to remain agile and adaptable.

Masterplanned by JTC, this game changing approach will support the transformation of existing businesses and anchor new growth industries that are green and powered by technology, such as agri-tech and environmental technology, in Sungei Kadut. This will also open opportunities for the development of new exportable capabilities.

Sungei Kadut today houses businesses in the timber, furniture, construction and waste management industries. With the advent of technology rapidly shifting the manufacturing industry, businesses have been transforming to ensure they remain relevant and competitive. Over the last few years, JTC launched several multi-user developments within Sungei Kadut to help intensify land use, reduce business costs and optimise resource usage by providing shared facilities and services. These developments include trendspace for the furniture and furniture-related industries, TimMac for the timber, metal and machinery industries, and Kranji Green for the waste management and recycling industries which supports the environmental technology industry.

Besides supporting the transformation of manufacturing, the 500-hectare SKED will be designed to welcome new growth industries such as agri-tech to seize new economic opportunities. About 18-hectare of land has been set aside for the first phase of development for Agri-Food Innovation Park (AFIP) in the district to co-locate R&D, prototyping and high-tech farming operations such as indoor farming and aquaculture hatcheries. This will generate new jobs such as systems engineers, plant scientists, and aquaculture nutritionists, and enable innovation and discovery of synergies with the co-location of agri-tech activities. Another new growth industry to be housed in SKED is environmental technology. In the meantime, 40% of land (~200 hectares) in SKED will be set aside for future growth industries.

Beyond supporting economic growth, these efforts will also help build up master planning and design capabilities in industrial redevelopment, which is becoming a common challenge in countries with mature estates.

The rejuvenation of Sungei Kadut provides opportunities for the real estate and architectural community to develop world-class capabilities in climate resilient and environmentally responsive urban planning and adaptive urban design approaches.

In recent years, sustainability has been a key focus for many industrialists. Besides employing a systems-level approach to optimise the flow of energy, water and materials, the district will also house Singapore’s first multi-storey recycling facility called Kranji Green, which is designed in partnership with the Waste Management Recycling Association of Singapore (WMRAS). The creation of such spaces will support the growth of environmental technologies and contribute towards Singapore’s zero waste commitments. Expected to be completed in 2021, it will house recyclers handling waste streams like metals, paper and plastics; and facilitate the re-use of industrial wastes and by-products, supporting Singapore’s zero waste efforts. It will also support industry transformation, offering industrialists heavy production floor loading, high ceiling and wide column span, replicating a land-based operating environment in a high-rise setting.

By gathering synergistic industries together in the rejuvenated Sungei Kadut, the district can potentially create sustainable circular economies. An example of a synergistic business relationship within the SKED ecosystem would be the aggregation and transfer of waste materials from companies to the neighbouring waste management companies. By doing so, this reduces logistics cost, improves waste management and encourages future collaboration.

Similar to next generation industrial estates like Jurong Innovation District and Punggol Digital District, SKED will be more than just a workplace but an exciting lifestyle destination for the wider community. The district will offer retail, recreational and lifestyle offerings after work and on weekends for the community. Some of these activities include live performances, pop-up markets and nature and heritage trails.

New roads and a new MRT station will be built to improve connectivity into and within SKED, while a mobility corridor for public buses, cyclists and pedestrians will also be built to support the district’s car-lite vision. There will also be a green network connecting waterfront parks and park connectors to wider recreational opportunities such as the Rail Corridor, the Round Island Route and Sungei Buloh Wetland Reserve.

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