Brilliance Capital is pleased to launch for sale a light industrial building at 48 Changi South Street 1 via an Expression of Interest. Currently owner-occupied, the part 2 / part 4-storey building sits on a land area of approximately 44,368 square feet, with a gross floor area of approximately 44,367 square feet. Under the current Master Plan, the site is zoned Business 2 (Industrial) with a plot ratio of 1.0.

The building comes with a sizable floor plate of approximately 17,000 square feet and double volume high ceiling feature, offering businesses large distribution and servicing spaces required for their operational needs. There are a total of 27 servicing bays at the production cum servicing area with floor loading capacity of up to 15 kilonewton per square meter. The building is well served by a car lift and a service cum passenger lift, together with ample car parking lots on site. In addition, the building is complimented by ancillary areas that comes with air-conditioned ancillary offices and meeting rooms.

The site is no longer within the assignment restriction period. Having complied with the additional 30 years investment criteria, the seller has also obtained the in-principal approval to qualify for the further 30 years plus 30 years lease with effect from 1 October 1997, subject to the authorities’ final approval at the point of application.

Located within the Changi South Industrial Estate, the building is well-served by both East Coast Parkway and Pan-Island Expressway, and is in proximity to Singapore Expo, Changi Business Park, Changi City Point and Jewel Changi Airport. Just within 4km to Changi Airport, the locale offers the extra convenience and efficiency in air freight, logistics and storage management. The building is also accessible through the nearest train stations such as Expo MRT Interchange Station (CG1 and DT35) and upcoming Xilin MRT Station (DT36).

Ms Sammi Lim, Founder and Executive Director, Brilliance Capital Pte Ltd, said: “Equipped comprehensively as a full-fledged vehicle fleet maintenance facility, the seller has been owner- occupying the premises for years, but has since outgrown the space due to the business expansion. There are options available for the buyer to purchase on a vacant possession basis or on a leaseback structure. This flexibility will attract a wider pool of buyers from end-users to investors. The guide price at S$12 million works out to approximately $270 per square foot.

We have observed a pool of end-user buyers who have been on the lookout for such sites but not able to find the right fit as such well-equipped and ready to operate vehicle fleet maintenance facility are rarely available for sale. Thus, we expect to receive keen interest from the market, especially due to supply scarcity. In addition, the site offers the potential to covert part of the premises to ancillary workers’ dormitory usage which will allow the operator to house their employees easily under one roof.”

Singapore remains a popular Asia base with large multinational companies and international retailers. On the back of a projected recovery and a continued increase in industrial and logistics demand in 2022, this is a timely opportunity for buyers to enter the market.

As an industrial zoned property, this purchase is open to both local and foreign buyers with no additional buyers’ stamp duty (ABSD).

Brilliance Capital is the sole marketing agent for this Expression of Interest Exercise. The Expression of Interest closes on 7 January 2022, Friday at 3.00 p.m.

To request a copy of the Information Memorandum please contact one of the marketing agent Ms Sammi Lim via the contact details below.