A Business 2 (B2) industrial property at Pandan Loop has been launched for sale with a guide price of $45 million. The five-storey building spans 175,308 sq ft and sits on a land area of approximately 70,323 sq ft, translating to a land price of $640 psf.
The building currently comprises 25 cold rooms, with levels one to five fully configured for chiller use, while levels one, two and five feature dual-function capability as both chillers and freezers.
The freezers within the property can reach temperatures as low as -30°C, according to Huttons Asia, the exclusive marketing agent for this asset.
The building also boasts a wide frontage of about 62m. Jeremy Lim, chief advisory district director at Huttons Asia, highlights that this B2 industrial building has a total of 16 loading bays, of which 14 are designed for 40-foot containers and the remaining for 20-foot containers, alongside five cargo lifts.
The ceiling height of each level is approximately 11.4m.
“The building underwent major construction and improvement in 2015, making it one of the buildings with the highest specifications in the area,” says Lim.
See also: First Jurong East EC site in 30 years could draw ‘strong interest’
Purpose-built niche industrial buildings with cold rooms and freezers are “hard to find in the market”, says Lee Sze Teck, senior director of data analytics at Huttons Asia. “The tall ceiling height and large number of loading [and] unloading bays offer operational efficiency and readiness for logistics and F&B companies.”
Demand is expected to be firm, says Rey Song, district director at Huttons Asia. “This property is ideal for established companies in the logistics and F&B industries. [The building's] state-of-the-art technology and features reduce the need for further upgrades. It is within 1.8km from the Pandan Reservoir MRT Station [on] the upcoming Jurong Region Line, [slated to open] in 2028 [or] 2029. It is [also] a 10-minute bus ride from [the] Clementi MRT station. The close proximity of the property to amenities adds very much to its appeal,” he adds.
The property is up for sale via an expression of interest, which will close at 3pm on July 9.
