Food factory site in Mandai fetches S$74 million, among recent big-ticket industrial deals

THE industrial property market has been buzzing with big-ticket sales in the past few months. These include a S$74 million deal for a freehold food factory development site in Mandai. A building in Senoko Loop, meanwhile, has fetched S$53.2 million and a property in Pandan Road is being sold for S$36 million; both are on JTC sites with balance leases of more than 20 years each.

A consortium that includes Singapore-based Ding Zhou Group and Unitedland Development was recently granted an option to purchase an old freehold industrial property with a land area of 50,630 square feet (sq ft) at 2C Mandai Estate.

The Business Times (BT) understands that the exercise of the option is conditional upon receiving the Urban Redevelopment Authority’s (URA) provisional permission to redevelop the site into a strata-titled food factory project.