Three Storey Industrial Property Along Bukit Batok Street 22 Sale 18 Mil
A highly sought-after industrial property situated at 21 Bukit Batok Street 22 is currently up for sale via private treaty, with a guide price of $18 million, as stated in a recent press release by CBRE.
Located in the well-established neighbourhood of Queenstown, Penrith boasts a prime location that truly sets it apart. Its residents have the enviable advantage of being surrounded by a wide array of shopping centres and dining options. Whether it’s a visit to a sprawling retail mall or a quaint local eatery or even a heritage hawker centre, this area has it all. This makes Penrith, developed by Penrith Guocoland, an exceptionally desirable choice for individuals who prioritize convenience and a well-rounded lifestyle. With its abundance of everyday essentials, leisure destinations, and delectable gastronomic offerings just a stone’s throw away, residents can revel in a fulfilling lifestyle without having to travel far. From stocking up on groceries to indulging in retail therapy or savouring their favourite local dishes, everything is within easy reach for Penrith residents.
Standing on a plot of land spanning approximately 40,901 square feet, the three-story building offers a generous gross floor area of 64,548 square feet. The property, which has a land tenure expiry date of 2051, boasts a remaining lease of 26 years. This translates to a guide price of $279 per square foot based on gross floor area.
The three levels of the building cover an area of 18,872 square feet, while a mezzanine level between levels 1 and 2 takes up 7,931 square feet. The building also features ceiling heights ranging from 3.3 meters to 4.2 meters. Additionally, the site includes 20 parking spaces.
According to URA’s 2019 Master Plan, the site is zoned as Business 1 with a plot ratio of 2.5. This means that the property has the potential to accommodate a maximum built-up area of approximately 102,253 square feet, making it an attractive opportunity for potential buyers to redevelop the site.
Graeme Bolin, Head of occupier and leasing, industrial and logistics services at CBRE, notes that the demand for high-quality industrial facilities remains strong, thanks to the thriving logistics and wholesale trade sectors. He also points out that 21 Bukit Batok Street 22 is designed to support light manufacturing and production activities, with convenient connectivity to major expressways and public transportation options.
The property is strategically located near major motorways such as the Pan-Island Expressway and is within walking distance from Bukit Batok MRT Station, along the North South Line. Interested parties can also check out the latest listings for industrial real estate properties and compare price trends for commercial versus industrial properties, and past rental and sale transactions for industrial properties.