ERA Singapore Launches Exclusive Sale of Rare Prime Industrial Site in Tampines for S$15.9 Million

SINGAPORE, 23 October 2024 – ERA Realty Network Pte Ltd (“ERA Singapore”) is pleased to announce its exclusive appointment for the sale of a rare prime industrial property located at 22 Tampines Street 92. Featuring a rare single-storey car workshop and a three-storey ancillary office, the property presents a unique opportunity for businesses looking to secure an ideal industrial location in the East.

Spanning an expansive 6,619.3 sq m (approximately 71,249 sq ft) and designed to accommodate a wide range of operational needs, the site is up for sale via an Expression of Interest exercise at the guide price of SGD$15.9 million.

Excellent Location with Significant Redevelopment Potential
Strategically located just outside the Pan-Island Expressway turnoff and minutes away from the Tampines Expressway, the site offers ample headroom for future expansion, given its Plot Ratio of 2.5 times and existing floor area of 4,854.97 sq m (approximately 52,258 sq ft) sits well below the allowable maximum. Coupled with its 30 years of remaining lease tenure from 1 August 2020, the property holds significant redevelopment potential.

Its rectangular-shaped, versatile layout is ideal for businesses across various industrial sectors that require both a functional workspace and administrative offices. Zoned under Business 2 according to URA’s 2019 Master Plan, the property could potentially be redeveloped with manufacturing, production, assembly, repair and servicing, storage or industrial training services in mind. Allowable business activities also include lighter industrial uses such as Core Media services – production services that require technical facilities comprising film studios or high-tech production software or hardware; or E-Businesses such as telecommunications, internet service providers, data farms or data centres, amongst others.

Desmond Lim, Director of Capital Markets & Investment Sales at ERA Singapore remarked, “Tampines is known for being a well-developed residential and commercial hub. The property has great potential for capital appreciation, and also represents a remarkable opportunity for businesses that are looking to secure both long-term stability and growth, given its long remaining lease tenure and ample redevelopment potential. This asset is perfectly positioned to capitalize on evolving business needs and emerging market trends – whether for immediate use or future redevelopment.”

Additionally, the site’s excellent connectivity via major expressways PIE and TPE offers seamless accessibility for business owners. Tampines MRT Station (on the East-West Line and Downtown Line) is nearby and the area is well-served by buses along Tampines Street 92, along with multiple eateries and amenities that are conveniently located nearby for both staff and visitors.

The sale of 22 Tampines Street 92 is subject to approval by JTC Corporation. ERA Singapore is the exclusive marketing agent for this Expression of Interest exercise, which closes on Thursday, 27 November 2024, at 3 pm (Singapore Time).