B2 Industrial Site Gul Lane Sale 48 Mil
The real estate company Cushman & Wakefield has announced that a 549,251 sq ft industrial site located at 19 Gul Lane is now on the market for $48 million. According to the press release issued by the company, it will be acting as the marketing agent for the property.
The site is currently classified as “Business 2” under the latest Master Plan and is situated near the Gul Circle MRT Station on the East-West Line. Its location also offers easy access to Tuas Checkpoint, Jurong Island, Jurong Innovation District (JID) and the newly built Tuas Mega Port.
The existing structures on the site include a warehouse and production space, with a total gross floor area of 359,926 sq ft. In 2022, the buildings underwent asset enhancement works, which included a refurbishment of the office interiors.
Recent transactions in the industrial buildings located in Gul Lane have been on the rise, and with the help of the EP Buddy, interested parties can find out more about the listings, valuations, and transactions related to the site.
In addition, Cushman & Wakefield believes that the site has immense potential for redevelopment or asset enhancement. If it were to be redeveloped, the new project could offer a maximum built-up area of 768,951 sq ft. The plot has a regularly shaped structure, making it an ideal location for a new prime logistics or large manufacturing facility.
Executive Director of logistics and industrial markets at Cushman & Wakefield, Brenda Ong, says that the sale of this industrial site would attract businesses in the production or manufacturing sector, high-tech manufacturing firms, and third-party logistics or warehouse users.
She also points out that it is rare for a large plot of land to be available in land-scarce Singapore, making this a unique opportunity for companies with significant space requirements. Ong adds that the site is suitable for high-tech manufacturing facilities in the new economy sectors, as well as core engineering sectors, electronics, or third-party logistics companies, who are looking to reduce occupancy costs and expand their operations in the western part of Singapore.
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The plot will be sold in an Expression of Interest exercise, which is set to close on July 30. Interested parties are encouraged to take advantage of this opportunity to acquire a rare and well-located industrial site.