http://www.businesstimes.com.sg/arch...oa-payoh-grabs

Published August 07, 2012

Industrial site in Toa Payoh up for grabs

By michelle tan


A 60-YEAR leasehold industrial property was put up for an expressions-of-interest exercise yesterday, according to DTZ.

Occupying a total land area of around 44,906 sq ft, the site along Lorong 5 Toa Payoh comprises a four-storey light industrial building with a gross floor area and net lettable area of about 83,342 sq ft and 58,194 sq ft, respectively, at an indicative asking price of about $23 million to $25 million.

Zoned "Business 1" according to the Master Plan 2008, the site, which is a stone's throw from Toa Payoh Central (where the Toa Payoh MRT station and the bus interchange are located), has a plot ratio of 2.5 which translates into an allowable gross floor area of around 112,265 sq ft.

In addition, the property boasts an attractive frontage of 850 metres along Lorong 5 Toa Payoh, making it suitable for display purposes.

Said Shaun Poh, DTZ head of investment advisory and services and auction: "It is extremely rare to find an industrial property that is situated beside the bustling Toa Payoh Central and surrounded by a host of amenities. The property's close proximity to residential areas makes it an attractive workplace near to home.

"Subject to the relevant authority's approval, the property would be ideal as a car or product showroom, watch or photographic assembly service centre, warehouse-cum-showroom for high-end light fittings, furniture and house appliances."

The expressions-of interest exercise closes at 3pm on Sept 18.