An exclusive opportunity to own a freehold industrial building in the city fringe is now available. 21 New Industrial Road, located off Upper Paya Lebar Road, has been launched for sale via an expression of interest exercise with a guide price of $66 million. Featuring a site area of 3,368.4 sq m (36,257 sq ft) zoned for Business 1 use with a gross plot ratio of 2.5, ERA Realty Network is the exclusive marketing agent for the property.

Positioned near the intersection of Upper Paya Lebar Road and Bartley Road East, the building offers dual road access from both Lim Teck Boo Road and New Industrial Road. With the former mainly comprising of landed residential developments and the latter industrial buildings, retailers, food courts and child care centres, this 15-minute walk from the Bartley and Tai Seng MRT Stations, provides an idyllic location.

Steven Tan, managing director of capital markets and investment sales at ERA believes the asset will attract keen interest due to it being freehold and its close proximity to the city. He adds that a limited supply of such properties, as well as the additional buyer’s stamp duty not applying to industrial assets, will increase its attraction amongst prospective buyers, including property developers and private and institutional property investors.

HDB’s Altura EC launch at Bukit Batok West Avenue 8 promises 375 residential units, Altura EC a 99-year leasehold, convenient transportation links, and proximity to Jurong Innovation District and Tengah Town.

Desmond Lim, director and head of workspace and culture, capital markets and investment sales at ERA has suggested the potential for redevelopment into a green building that incorporates sustainability and wellness features for the environment and users. Additionally, due to the tight supply of warehouses, the site could be redeveloped into one, with its city-fringe location making it an ideal “last mile” commercial site. Its proximity to nearby residential enclaves such as Bidadari, Bartley and Woodleigh makes it an ideal self-storage space.

The expression of interest exercise for 21 New Industrial Road closes on April 26th at 3pm. Don’t miss this unique opportunity to secure a freehold asset in the city fringe!