JLL is the exclusive marketing agent of six prime strata-titled units occupying the entire floor within Westech Building - a block of 8-storey ramp-up multiple users light industrial building located at 237 Pandan Loop, via an Expression of Interest (EOI) exercise.
JLL is the exclusive marketing agent of six prime strata-titled units occupying the entire floor within Westech Building - a block of 8-storey ramp-up multiple users light industrial building located at 237 Pandan Loop, via an Expression of Interest (EOI) exercise.
The six contiguous units are located on the lower floor of the development, with sizes ranging from 1,410 sq ft to 2,895 sq ft, making up a total strata area of approximately 12,314 sq ft (excluding the corridor of about 861 sq ft). The units enjoy exclusive use of the common corridor, and each comes with excellent specifications – a 4.5-metre ceiling height, 10.0 kN/sqm floor loading. The units are fully renovated with air-conditioning units, false ceilings, and carpeting, and are located adjacent to the car park level, providing easy access for tenants. With its specifications and immediate move-in conditions, it is expected to draw strong interest from qualifying office users of an industrial building.
The land has a leasehold tenure of 999 years effective 31 March 1885, and approved use for the building is “Business 2” (B2) – for heavier industrial use under the Urban Redevelopment Authority’s Master Plan 2019.
Purchasers have the option to purchase the units with vacant possession, or with the vendor leasing back the units for a period of time upon sales completion. The indicative price for the units is ranging from S$8.6 to S$9.3 million, which equates to an average price of about S$700 to S$750 psf on the strata area.
Westech Building is strategically located in Pandan Loop, an area in the west of Singapore heavily concentrated with factories and industrial developments. It has easy access to amenities and is in close proximity to West Coast and Clementi, being just under a 5 minutes’ drive to Clementi MRT station (East-West Line) and bus interchange and 3 minutes’ drive to the upcoming Pandan Reservoir MRT Station (Jurong Region Line).
Boon Leong Tan, Executive Director, Logistics & Industrial, JLL Singapore, commented, “Many tenants in the Pandan Loop precinct are attracted to this area because of its connectivity to MRT stations, as well as proximity to the Ayer Rajah Expressway, the West Coast Highway, Pasir Panjang Terminal and even the future Greater southern Waterfront. 999-years leasehold strata units with single large floorplate are difficult to source and this sale presents an excellent opportunity for owner-occupiers or investors to acquire industrial units located in a prime industrial district of Singapore.”
The EOI exercise for the property will close on 22 November 2022 (Tuesday) at 3.00pm.