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JTC food factory goes on sale with S$18m guide price

The Business Times by VIVIENNE TAY

Singapore

A JTC detached food factory next to the future Enterprise MRT Station on the Jurong Region Line has been put on sale by private treaty at a guide price of S$18 million.

When contacted, exclusive marketing agent Cushman & Wakefield said the reason for the sale was because the owner of the property has "sold (its) business and no longer needs the facility".

The Business Times understands that the seller of the building is Auric Pacific Marketing.

The property at 2 Enterprise Road, at the corner of Jalan Boon Lay and Enterprise Road, is located within the JTC "Chin Bee" Food Zone surrounded by other key food suppliers and manufacturers such as Neo Garden, Khong Guan, GSK, Unilever, Olam and Meiji.

The factory occupies a land area of approximately 16,234 square metres with a gross floor area of 14,085 sq m. It comprises a single-storey industrial building with two levels of modern office space.

Approved use for the property currently includes warehousing and distribution of food and related products and meat processing.

Facilities within the building include a warehouse, production area, chiller rooms, freezer rooms and multiple loading bays.

The property, which is being offered with vacant possession, has a balance of approximately 14 years on its 60-year lease, which started from Dec 16, 1972. Under the Master Plan 2014, the site is zoned as "Business 2" with a plot ratio of 2.5.

Said Shaun Poh, executive director of capital markets at Cushman & Wakefield: "A detached food factory within a mature food zone is rarely available in the market, especially for a land plot of this size. The future Enterprise MRT Station at the doorstep of the property will make it even more appealing.

"We envisage that this sale opportunity is likely to attract strong interest from a diverse mix of users from the food and beverage industry."