JTC food factory goes on sale with $18m guide price

The property at the corner of Jalan Boon Lay and Enterprise Road, is located within the JTC "Chin Bee" Food Zone surrounded by other key food suppliers and manufacturers such as Neo Garden, Khong Guan, GSK, Unilever, Olam and Meiji.
Dated: 12-Feb-2019

SINGAPORE - A JTC detached food factory next to the future Enterprise MRT Station on the Jurong Region Line has been put on sale by private treaty at a guide price of $18 million.

The property at 2 Enterprise Road, at the corner of Jalan Boon Lay and Enterprise Road, is located within the JTC "Chin Bee" Food Zone surrounded by other key food suppliers and manufacturers such as Neo Garden, Khong Guan, GSK, Unilever, Olam and Meiji.

The factory occupies a land area of approximately 16, 234 sq m with a gross floor area of 14, 085 sq m, according to exclusive marketing agent Cushman & Wakefield.

It comprises a single-storey industrial building with two levels of modern office space. Approved use for the property currently includes warehousing and distribution of food and related products and meat processing.

Facilities within the building include a warehouse, production area, chiller rooms, freezer rooms and multiple loading bays.

The property, which is being offered with vacant possession, has a balance of approximately 14 years on its 60-year lease, which starts from Dec 16, 1972. Under the Master Plan 2014, the site is zoned as "Business 2" with a plot ratio of 2.5.

Said Shaun Poh, executive director of capital markets at Cushman & Wakefield: "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."

Source: Straits Times