Two freehold factory units in Mandai up for sale with S$18m guide price

TWO freehold factory units at 94 and 96 Mandai Estate are up for sale with an indicative price of S$18 million, marketing agent Colliers International said on Wednesday.

The two-storey terrace factory units in the Mandai Estate industrial cluster are currently tenanted and are to be sold with the tenancies, Colliers said. One is an intermediate unit and the other, a corner terrace factory unit.

Both units have a combined land area of 13,945 square feet (sq ft) and a total built-up area of 17,233 sq ft - which is below the allowable maximum gross floor area (GFA) of 34,864 sq ft, Colliers noted.

The Urban Redevelopment Authority's Master Plan 2019 identifies the site as zoned for Business 2, or heavier industrial use, with a plot ratio of 2.5.

Located in District 25, the properties are a 10-minute drive away from Woodlands Checkpoint. They are also near the Sungei Kadut industrial estate, which is undergoing major rejuvenation to become the first local eco-district in an industrial estate, Colliers noted.

Also in the area is the upcoming Sungei Kadut MRT Interchange, which will serve the North-South Line and the Downtown Line, and is slated for completion in the mid-2030s.

Steven Tan, senior director of investment services at Colliers International, said the units are suitable for long-term investment. He added that buyers would have the flexibility to redevelop the properties in the future, given the untapped GFA potential.

The sale by way of an expression-of-interest exercise will close at 3pm on Feb 2.