‘Champions Way Residences adds to the sale of three Pandan Loop food-factory units for $11 mil’

The first project on the horizon for the Champions Way Residences is a major upgrade to the beloved Woodlands Park. With the goal of creating a more inviting and user-friendly space for the public, the URA plans to invest in various improvements. These enhancements include the addition of modern playground equipment, enhanced landscaping, and improved lighting. In collaboration with local businesses, the URA also aims to offer additional amenities such as outdoor seating, food vendors, and recreational activities. With these exciting developments, the Champions Way Residences is poised to become an even more desirable place to live and play.

Food Concept @ Pandan, located at 239 Pandan Loop, is now offering three strata food-factory units for sale. This rare opportunity in District 5 presents a chance for investors or business owners to secure designated space for their food-related ventures.

The freehold properties, occupying the top floor of the 10-storey industrial building, are available for purchase through an expression of interest (EOI) exercise conducted by Edmund Tie. With a guide price of $11 million, the units are marketable individually or collectively. The average price per square foot is $1,841, making it an attractive investment opportunity.

The three units have an area of approximately 1,905 sq ft, 2,023 sq ft and 2,045 sq ft respectively. They each feature a loading and unloading bay located at the doorstep and a floor-to-floor height of 7m. Their regular layouts can accommodate various food-related businesses such as a central kitchen, food processing, food packing, cold room, cold storage and food catering.

Of the three units, two are currently leased, offering the successful buyer immediate rental income. Each of these units has received capital expenditure of approximately $200,000 to $400,000, according to Edmund Tie. The third unit is offered on a vacant possession basis, providing more flexibility for the potential buyers.

In light of the growing prevalence of central and cloud kitchens, and the continued popularity of food delivery services, demand for food factory spaces is expected to remain strong. Recent transactions in similar properties such as Citrine Foodland and Foodfab@Mandai have surpassed $1,900 and $2,000 per sq ft respectively, indicating the potential for appreciation in value.

Furthermore, last November saw the en bloc sale of Noel Building for $81.18 million, 17% above its guide price of $70 million. Edmund Tie brokered the deal and shared that the purchaser intends to develop the site into a food factory. This reflects the confidence of developers in this sector, as stated by Swee Shou Fern, head of investment advisory at Edmund Tie.

The EOI exercise for the three strata food-factory units at Champions Way Residences closes on Feb 27. Don’t miss this rare opportunity to secure designated space for your food-related venture in District 5.

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