Industrial building at Leng Kee area on sale for S$19 million
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AN industrial building located at the Leng Kee car showroom belt is for sale for S$19 million via an expression of interest exercise, said its marketing agent JLL on Tuesday (Apr 5).
The expression of interest will launch on Wednesday and close on May 18 this year.
The property at 6 Kung Chong Road is a part 3- and 4-storey building for light industrial and office use, with a single storey car service workshop on the ground floor.
The building sits on a site with a total area of about 15,996 sq ft. It has a gross area of approximately 15,642 sq ft, with potential to increase to approximately 40,000 sq ft with a plot ratio of 2.5.
The land it sits on has a remaining lease of about 33 years. It is leased from statutory board JTC, with a tenure of 99 years starting from Dec 14, 1956.
JLL said that no land rent is payable, and the building is approved for light and clean industrial use.
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The industrial property is located near a few shopping malls, such as Anchorpoint Shopping Centre and Ikea Alexandra, and is situated between the Redhill and Queenstown MRT stations.
READ MORE:
- Industrial property market growing from strength to strength
- Office, retail, industrial properties underpin Asia-Pacific investment bonanza
- 2 Leng Kee showrooms up for sale at guide prices of S$15m, S$23m
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