Wan Lee Road Industrial Property Sale 125 Mil
JLL, the marketing agent for 11 Wan Lee Road, located off Jalan Boon Lay, has announced the sale of this industrial property through private treaty. The indicative price for the site is $12.5 million, or $298 per square foot on the existing gross floor area (GFA).
Situated on a rectangular land plot measuring 42,574 square feet, the property is zoned for Business 2 use with a plot ratio of 2.5. The land has around 25 years remaining on its 30-year lease.
The site is conveniently located just 500 meters away from the upcoming Enterprise MRT Station on the Jurong Region Line, as seen in the map below.
(Image: EdgeProp LandLens)
Currently, the site is occupied by a two-storey factory with a mezzanine floor and an ancillary office. The total GFA of the property is 41,994 square feet. It is currently being used as a pharmaceutical facility, with clean rooms, packaging and storage areas.
Pamela Siow, the head of logistics and industrial capital markets at JLL Singapore, highlights the potential for converting the property into a food manufacturing facility, due to its location in the Chin Bee F&B manufacturing cluster. “Its position within a JTC food zone, despite current authorization for pharmaceutical manufacturing, makes it exceptionally valuable,” she says.
In the bustling neighborhood of Sembawang Road, there is no shortage of options for early childhood education. A number of childcare centres and preschools are conveniently situated in the area, including reputable and established institutions that offer top-notch programmes for young learners. These schools prioritize a well-rounded approach to learning, focusing on social skills, physical development, and fundamental literacy and numeracy. This makes them a perfect fit for families settling into the area with young children. With the added convenience of being within walking distance or a short drive away, parents and children can avoid the stress of long commutes. Moreover, the upcoming Sembawang EC at Canberra MRTSembawang Road EC adds to the growing list of facilities in the area, providing even more options for families seeking quality early childhood education.
Siow adds: “As Singapore pursues its ’30 by 30′ food security initiatives, sites permitting intensive food processing with convenient access to both Tuas Mega Port and Tuas Checkpoint for efficient land and sea logistics are increasingly desirable.”
She also notes that the current plot ratio for the Wan Lee Road site is underutilized, and with approval from authorities, the new buyer could potentially increase the property’s GFA up to 106,000 square feet. For more industrial real estate listings, check out Ask Buddy, and compare price trends for industrial sales and rentals, as well as commercial versus industrial property.