City-fringe Industrial Property at 132 Joo Seng Road, Singapore, Hits the Market

Singapore, 1 July 2024 – CBRE, as the appointed exclusive marketing agent, is offering a well-located industrial property at 132 Joo Seng Road for sale. This unique property comprises a 1-storey flatted factory block and an 8-storey light industrial block within the bustling district of MacPherson, known for its concentration of established industrial estates.

Occupying a 72,395-square-foot site with a remaining tenure of 23 years (30 years w.e.f. 1 January 2017), the industrial development has a total gross floor area of approximately 161,466 square feet.  

Zoned for “Business 1” use under the Master Plan 2019, with a plot ratio of 2.5, the new owner has the opportunity to maximise the underutilised plot ratio, potentially expanding the built-up area to 180,988 square feet.

The 8-storey light industrial block offers a regular and efficient floor layout, with a ceiling height of around 4 metres and is serviced by 2 cargo lifts, ideal for businesses seeking visibility for signage and a corporate headquarters. The factory block features a maximum ceiling height of 9 metres, catering to storage or light production needs. A robust power supply is ensured by HT 22kv with transformers, capable of handling a concentrated capacity of up to 5MVA, suitable for high-power industries, complemented by approximately 50 car park lots for added convenience.

With an indicative price of S$34 million, the property is available via private treaty.



Mr Graeme Bolin, Head of Occupier and Leasing, Industrial and Logistics Services, comments, “132 Joo Seng Road is a standout opportunity in the MacPherson district. Its strategic location and excellent facilities make it an ideal choice for businesses looking to establish or expand their presence in a key industrial hub. The property’s potential for redevelopment or increased utilisation of its plot ratio makes it an attractive investment for sectors such as life sciences, advanced manufacturing, and technology."

He continues, “With a compound annual growth rate (CAGR) of 4.1% for the manufacturing sector, the sector’s robust growth signals a strong demand for industrial spaces like 132 Joo Seng Road. Its proximity to major transportation links and amenities, coupled with the high occupancy rates in the vicinity, positions this property as a highly desirable option for investors and owner-occupiers seeking a valuable addition to their portfolio.”

Strategically located, 132 Joo Seng is easily accessible via major expressways such as the Pan Island Expressway (PIE) and Central Expressway (CTE). It is also an approximately 10-minute walk from Tai Seng MRT station, enhancing its connectivity.