Freehold industrial site on Alexandra Road up for sale

A freehold industrial site on Alexandra Road has been put up for sale.

Colliers International, the marketing agent, did not give an indicative price as there has been no recent industrial site sales in that area.

However, Colliers did say an HDB leasehold site located at the nearby Kung Chong Road was sold for more than S$20 million this month.

The Alexandra Road site is a four-storey industrial development that sits on 14,753 sq ft of land and is currently occupied by a single tenant whose lease expires in February next year.

Under the 2008 Master Plan, the subject site has a plot ratio of 2.5 and is zoned for “Business 1” use.

This means the site can be developed for various uses such as light industry, clean industry, utilities or telecommunications.

Colliers said prospective buyers can also explore other uses for the development, such as converting it for religious use, with approval from the relevant authorities.

The existing development could also be sub-divided into strata units for sale, it added.

Source : Today – 20 Sep 2011

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