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15 October 2012

15th October, Monday


Investment Sales


Chin Bee terrace factories for sale with $20m tag

Source: Business Times

International Flavors & Fragrances (IFF), which last month opened a new plant in Jurong, has put up its former factory premises nearby for sale. The pricing expectation is in excess of $20 million.

The premises on offer are within JTC Corp's Chin Bee Food Zone. It comprises a row of five terrace factories on JTC sites on five contiguous plots with remaining leases of 23-30 years.

The sites, adding up to 75,018 sq ft in land area, are zoned for Business 2 use under Urban Redevelopment Authority's Master Plan 2008. The five factories have an existing gross floor area of 57,112 sq ft, just slightly over a third of the maximum allowable 159,591 sq ft. This means there is substantial redevelopment potential for the new owner. The property is being sold with vacant possession.

The tender for the property closes on 29 November.


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