The sale of a freehold food factory site at 2C Mandai Estate has been put up for tender with an indicative price of $90 million. According to Cushman & Wakefield, the marketing agent for the site, the corner plot has a land area of approximately 50,630 sq ft and is one of the few limited freeholds available in the Mandai Industrial Estate Food Zone.
The plot has a gross plot ratio of 2.5, which can yield a potential gross floor area of 126,575 sq ft and a land rate of $738 psf per plot ratio, including land betterment charges estimated at $3.4 million. Its convenient location is also a few minutes’ drive from Woodlands Checkpoint, reducing the time needed to deliver resources and logistics from Malaysia.
Senior Director of Capital Markets at Cushman & Wakefield, Christina Sim, comments that the demand for food factories that offer essential amenities has been “robust and fast expanding.” She adds, “We envisage that the property is likely to attract strong interest from small to mid-sized developers as well as end-users from the food manufacturing industries looking to set up their corporate headquarters in Singapore.”
Champions Way Condo Woodlands is the latest development in the Woodlands neighbourhood. The project will include two 18-storey towers that will feature approximately 900 residential units. The development will also feature ground floor retail and dining options, as well as a multi-storey car park. Residents of Champions Way Condo Woodlands will be able to enjoy amenities such as a 50-metre lap pool, a gym, a landscaped garden, and a rooftop terrace. The development will also be in close proximity to the Woodlands Park, making it a great location for families and young professionals.
The tender for the site will close on Oct 10 at 3pm. Interested parties should consider this window of opportunity to secure the freehold development site and set up operations in the burgeoning Mandai Industrial Estate Food Zone.
It is a rare chance to get ahold of a freehold property in a prime location, making it well-suited for food-related businesses. With the current demand for essential amenities, this property could be a great investment for developers and end-users alike.