Two adjoining plots at Jalan Lembah Kallang for sale at S$17m guide price

TWO adjoining plots of land - 1 and 3 Jalan Lembah Kallang - are up for sale with a guide price of S$8.5 million each or S$17 million for both, sole marketing agent Savills Singapore said on Monday.

No 1 is a detached factory, comprising a three-storey front office building with a single-storey rear workshop. It has a total gross floor area (GFA) of about 6,000 square feet (sq ft) and land area of 8,475 sq ft, with potential redevelopment of up to 21,000 sq ft.

No 3 is a detached factory with a two-storey building and an open yard workshop. It has a total GFA of about 6,550 sq ft and a land area of 8,544 sq ft.

Sitting on a land zoning of Business 1 Industrial, they both have 43 years remaining in their 99-year leasehold tenures effective from Sept 1, 1964 and July 1, 1964, respectively.

They are situated within a four-minute walk to Bendemeer MRT station and an eight-minute walk to Boon Keng MRT station. The immediate neighbourhood comprises light industrial, commercial and residential developments, Savills said.

"With an allowable gross plot ratio of 2.5, and a long remaining land lease with no ground rent payable for either property, we expect interest from buyers seeking to redevelop the site into their customised corporate headquarters in a superior city-fringe locality," said Sharon Teo, managing director, business space, Savills Singapore.

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The expression-of-interest exercise for both properties will close on Sept 30 at 3pm.