Scorpio East building in Tai Seng Avenue up for sale

The Scorpio East building at 25 Tai Seng Avenue has been put up for sale by Expression of Interest by property consultant Colliers International.

The seven-storey industrial building within Paya Lebar iPark sits on a 27,000 sq ft site that presently has a balance lease of 51 years, Colliers International said in a press release on Wednesday (Apr 22).

With a total gross floor area of approximately 68,000 sq ft, the property is currently used for media production and office operations. Colliers International said there is a 38-seat theatre and exhibition area on the first storey, and a production studio on the seventh storey.

Mr Tan Boon Leong, executive director of Industrial Services (Project & Sales) at Colliers International, expects the development to appeal to “end users from the media and film, lifestyle and light industries; in particular, companies who can leverage” on the existing facilities, which he described as “well maintained”.

He said: “This is a unique opportunity for corporate end users to purchase a well-maintained development within iPark, which is gaining popularity with small- and medium-sized companies in recent years.”

Mr Tan also described how the once-mature industrial estate has transformed into a bustling area where the headquarters of several well-known local brands are located.

The most recent transaction in the vicinity was the Jackson Design Hub, which was sold for S$31.5 million in 2014.

The Scorpio East building is within a short walking distance of Tai Seng MRT Station and is accessible via major expressways including the Kallang-Paya Lebar Expressway and the Pan-Island Expressway.

Interested parties can submit their offer to Colliers International by May 21 at 3pm.

Source : Channel NewsAsia – 22 Apr 2015

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