The properties at 12 Tagore Drive and 205 Henderson Road present rare industrial investment opportunities in well sought-after locations.
SINGAPORE, 6 July 2020 — Colliers International (NASDAQ and TSX: CIGI), a global leader in commercial real estate services, announced today that it will put up two industrial properties for sale via an expression of interest exercise (EOI) on 7 July 2020. The two properties are namely 12 Tagore Drive and 2 strata units at 205 Henderson Road with indicative prices of S$55 million and S$7.98 million, respectively.
12 Tagore Drive
The indicative price of S$55 million translates to S$573 per square foot (psf), based on an existing gross floor area (GFA) of 95,819 sq ft (8,901.8 sqm). The property is a 4-storey freehold warehouse with a site area of approx. 57,641 sq ft (5,355 sqm).
Located in Tagore, an established industrial cluster, the property enjoys a strong connectivity via major arterial roads and expressways including Upper Thomson Road, Yio Chu Kang Road, SLE, TPE and CTE. The upcoming Lentor MRT station situated nearby will offer more accessibility to the vicinity when it is in operations after July 2020.
Under the Master Plan 2019, the site is zoned as Business 1 at plot ratio 2.0, translating to a maximum allowable GFA of approx. 115,281 sq ft (10,710 sqm). Subject to the relevant approvals, the site could be redeveloped to maximise the GFA.
Steven Tan (陈添裕), Senior Director of Capital Markets & Investment Services at Colliers International, said, “This presents a rare opportunity for buyers to acquire a freehold warehouse in an established industrial location. It also offers buyers the flexibility to redevelop the property to maximise the GFA for their own use or move in immediately for their business operations. We also expect this opportunity to attract developers looking for freehold industrial redevelopment sites.”
Two Strata Units in 205 Henderson Road
The total strata area for the two industrial units is approx. 10,926 sq ft (1,105 sq m), with an indicative price of S$7.98 million, or approximately S$730 psf on strata area. This opportunity comprises 2 freehold strata industrial units located in Henderson Industrial Park, within Bukit Merah planning area.
The property is well-served by major arterial roads and expressways including Jalan Bukit Merah, Henderson Road, AYE and CTE and is a short 11-minute drive away from Singapore's Central Business District (CBD). Bukit Merah Bus Interchange is also located nearby, providing a transportation alternative for employees and customers. Both units are currently vacant and are to be sold with vacant possession.
Mr. Tan added “These units are located in Bukit Merah, a well sought-after industrial location for industrialists. This opportunity is excellent for end-users looking for showroom or warehousing space for their business operations.”
“Colliers International research forecasts the industrial supply to taper off in the next 5 years. Industrial assets command higher yields than office and retails assets and remain the most insulated compared to other asset classes in this pandemic.”
The EOI for both industrial properties will close at 3pm on Tuesday, 4 August 2020.