Singapore
2-Storey Industrial Property with Redevelopment Opportunity at 455 Jalan Ahmad Ibrahim For Sale
August 14, 2024
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Head of Marketing & Communications, Singapore
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Priced at approximately S$30 million, the sale will be conducted via a private treaty.
Situated on a plot of land measuring 184,717 square feet with a remaining lease tenure until 2054, this logistics property offers a total gross floor area of approximately 128,786 square feet. With a 30-year lease remaining, this site presents strong value in today’s market with significant redevelopment potential.
According to the Master Plan 2019, the site is designated as “Business 2” with a plot ratio of 1.4. This allows for a potential built-up area of approximately 258,604 square feet, offering an additional 129,818 square feet of untapped plot ratio. The current underutilised plot ratio of 0.7 highlights the significant development potential available.
The part single and part two-storey industrial building comprises an ambient warehouse/production area spanning a total of 93,459 square feet, along with 4,392 square feet of office space and 30,934 square feet of ancillary space. With a floor loading capacity of 16 kN/sqm and 27 kN/sqm for the warehouse/production areas, 27 kN/sqm for the ancillary areas, and 10 kN/sqm for the office areas, the building is well-equipped to handle various industrial needs. The production area features a pitched roof with a ceiling height ranging from 6m to 8.4m. The site is well-equipped with 3 x 1,500kVA of power. Additionally, the site includes 20 car lots, 5 lorry lots, and 2 loading/unloading bays, ensuring ample parking and efficient operations.
The site benefits from dual entrance access via Jalan Ahmad Ibrahim and Tuas Avenue 1, providing excellent connectivity to the Ayer Rajah Expressway (AYE) and Pan Island Expressway (PIE). The property is also well-situated within Singapore’s western manufacturing hub, near the Second Link (bridge to Malaysia) and Tuas Megaport. It is well-built to support manufacturing and production usage. Additionally, the excellent location offers potential for food zone conversion, enhancing its versatility and appeal. The property’s location and allowance for substantial cargo volumes also make it a suitable site for logistics operators running a regional logistics hub.
Mr Graeme Bolin, Head of Occupier and Leasing, Industrial and Logistics Services, expressed his optimism, stating, “Despite some economic uncertainties, the demand for high-quality industrial facilities remains robust. In Q2 2024, leasing activity was driven by renewals and relocations, with many occupiers seeking to upgrade to higher-spec facilities. 455 Jalan Ahmad Ibrahim offers an opportunity for investors and owner-occupiers to acquire a property with excellent building specifications, ample land for potential redevelopment to a modern warehouse facility, and a strategic location within the heart of the Tuas manufacturing zones.”
“455 Jalan Ahmad Ibrahim is designed to efficiently manage cargo operations and offers convenient connectivity to major expressways, making it a practical choice for import and export activities, especially with its proximity to the Tuas Mega Port and Tuas Checkpoint. The property also benefits from accessible and reliable public transportation options, with the nearest bus stop just a few minutes’ walk away,” Mr Bolin concluded.
About CBRE Group, Inc.
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