SINGAPORE, February 11, 2019 – Cushman & Wakefield has been appointed as the exclusive marketing agent for the sale of a JTC detached food factory at 2 Enterprise Road (the “Property”).
Located adjacent to the future Enterprise MRT Station (Jurong Region Line), the subject site sits prominently on a regular land plot at the corner of Jalan Boon Lay and Enterprise Road. It is located within the JTC “Chin Bee” Food Zone surrounded by other key food suppliers/manufacturers such as Neo Garden, Khong Guan, GSK, Unilever, Olam and Meiji.
The Property is a single-storey industrial building with two levels of modern office. Currently, the approved use for the Property includes warehousing and distribution of food and related products and meat processing. Facilities within the building include warehouse (aircon / non-aircon), production area, chiller rooms, freezer rooms and multiple loading bays.
It has a land area of approximately 16,234.2 sq m with gross floor area of approximately 14,084.7 sqm. The Property has a JTC leasehold tenure of 60 years commencing from 16 December 1972 (balance of approximately 14 years). Under the Master Plan 2014, the site is zoned as “Business 2” with a plot ratio of 2.5.
Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield said, “A detached food factory within a mature food zone is rarely available in the market, especially for a land plot of this size. The future Enterprise MRT Station at the doorstep of the Property will make it even more appealing. We envisage that this sale opportunity is likely to attract strong interest from a diverse mix of users from the food and beverage industry.”
The Property is being put up for sale by private treaty at a guide price of $18 million. It will be delivered on a vacant possession basis.
For further information, please contact:
Associate Director, Communications
+65 6317 8349/ 96916449
Executive Director, Capital Markets
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.