B2 Industrial Site Gul Lane Sale 48 Mil
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An industrial site spanning over half a million square feet in size is now up for sale at 19 Gul Lane for a total sum of $48 million, based on a press release from Cushman & Wakefield, the property’s marketing agent. The 549,251 square feet land is currently zoned as “Business 2” according to the latest Master Plan, and is located in close proximity to the Gul Circle MRT Station on the East-West Line. It also enjoys easy access to Tuas Checkpoint, Jurong Island, Jurong Innovation District (JID), and the upcoming Tuas Mega Port.
The existing structures on the site consist of a warehouse and production space, with a total gross floor area of 359,926 square feet. The properties recently underwent asset enhancement works and had their office interiors renovated in 2022.
Recent industrial building transactions in Gul Lane have shown promising results, and interested parties can now utilize EP Buddy to gather insights on transactions, listings, valuations, and more.
Cushman & Wakefield has stated that the location is ideal for redevelopment or asset enhancement, with a potential maximum built-up area of 768,951 square feet. The regularly shaped plot offers great potential for a new prime logistics or large manufacturing facility.
The sale of this industrial site is expected to attract businesses in the production or manufacturing sector, as well as high-tech manufacturing firms and third-party logistics or warehouse users. According to Brenda Ong, executive director of logistics and industrial markets at Cushman & Wakefield, this plot is a rare opportunity for end-users with significant space requirements, as sizable land plots are not readily available in land-constrained Singapore. The site is particularly suitable for businesses in the new economy sectors that require high-tech manufacturing facilities. It may also appeal to those in the core engineering sectors, electronics, or third-party logistics, seeking to control occupancy costs and expand their operations in the west region of Singapore.
An Expression of Interest exercise for the site will be conducted, and interested parties can submit their bids until July 30. This prime industrial site presents a unique opportunity for businesses looking to establish a strong presence in Singapore’s west region.