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Nine strata units at Pantech Business Hub up for sale with S$11.6m guide price
NINE ground-floor strata units at Pantech Business Hub have been launched for sale via expression of interest (EOI) at an indicative price of S$11.6 million, exclusive marketing agent CBRE said on Wednesday.
Located at 192 Pandan Loop, Pantech Business Hub is an industrial development that comprises three seven-storey blocks. It has 63 years remaining on its 99-year leasehold tenure.
To be sold either individually or collectively, the property has an indicative price of S$650 per square foot on the strata area.
The total strata area of the nine units is about 17,825 square feet (sq ft), with the smallest unit at 1,259 sq ft and the largest at 3,488 sq ft, CBRE said.
All units are tenanted.
Situated adjacent to the loading or unloading bay, each unit has specifications including a 5.4 metre ceiling height, floor loading of 20 kilonewton per square metre, water points, soil pipes and mechanical ventilation infrastructure, added CBRE.
The development sits on a site zoned Business 2 for heavier industrial use under the Urban Redevelopment Authority's Master Plan 2019.
According to CBRE, the offer is open to foreigners and there will be no additional buyer's stamp duty.
Graeme Bolin, senior director of industrial and logistics at CBRE, said: "Industrial and logistics properties, especially warehouses or last-mile assets, have witnessed increased interest recently due to the acceleration in e-commerce during the pandemic. Hence, this is a timely opportunity for owner-occupiers or investors to acquire a portfolio of prime ground-floor industrial units."
Mr Bolin added that the units could potentially be used for food-related activities, as Pantech Business Hub sits within the 100 metre buffer zone around Pandan food zone.
Clemence Lee, CBRE senior director of capital markets, Singapore, noted that Pandan Loop is an established industrial zone close to the Pasir Panjang Terminal which is set to be Singapore's key port in the next 20 years. "The strategic location provides businesses the convenience in facilitating storage demand, as well as international trade activities," said Mr Lee.
Popular among businesses in food-related and manufacturing industries, Pantech Business Hub has ample parking lots and a block which accommodates a canteen for the convenience of tenants, CBRE said.
The EOI exercise will close at 3pm on Oct 21.