Prime Freehold Strata Industrial Units for Sale at Cititech Industrial Building and Citilink Warehouse Complex

SINGAPORE, 8 April 2024 – ERA Realty Network Pte Ltd (ERA), Cushman & Wakefield (NYSE: CWK), and JLL (NYSE: JLL) have been jointly appointed as the exclusive marketing agents for the sale of freehold strata light industrial units at Cititech Industrial Building and Citilink Warehouse Complex. With unit prices starting from under SGD1 million, the units present an exceptional opportunity for investors and end-users alike.

Cititech Industrial Building located at 629 Aljunied Road, offers 44 strata industrial units for sale, ranging from 1,281 square feet (sq ft) to 2,325 sq ft. Strategically located in the well-established MacPherson industrial estate, the site is zoned as “Business 1” under the Master Plan 2019. The light industrial units feature regular floor layouts and high floor loading capacity, providing flexibility for various industrial activities. There are ample loading and unloading bays, equipped with dock levellers that can accommodate 40-ft containers and lorries.

Situated in the city fringe area, Cititech Industrial Building enjoys dual road accesses onto Aljunied Road and Soon Wing Road. It offers convenient access to Mattar MRT Station, just a 600-metre walk away, seamlessly linked to MacPherson and Paya Lebar MRT Interchange Stations. Additionally, the property boasts excellent accessibility via major expressways including the Pan-Island Expressway (PIE), Central Expressway (CTE), and Kallang-Paya Lebar Expressway (KPE).

The property’s prime location places it in proximity to key destinations such as the Central Business District (CBD) and Singapore Changi Airport, as well as major commercial or industrial hubs such as Paya Lebar Central, Paya Lebar iPark and Kallang iPark. Moreover, it is also a less than 30-minute drive from the expressways to Woodlands Checkpoint. Workers in the vicinity have access to a plethora of dining options along Aljunied Road and MacPherson Road, with Circuit Road Hawker Centre also within walking distance. Unit size ranges from 1,281 sq ft to 2,325 sq ft and are priced from SGD1.09 million onwards.

Citilink Warehouse Complex features 53 freehold strata warehousing units located in 102E Pasir Panjang Road and within the Alexandra Precinct. The site is also zoned “Business 1” under the Master Plan 2019. These units have superior building specifications including regular layouts for ease of usage, high floor loading capacity, wide corridors for ease of transfer of goods, and sheltered loading and unloading bays. Unit size ranges from 947 sq ft to 2,842 sq ft and are priced from SGD862,000 onwards.

The property is seamlessly connected by numerous major expressways including Ayer Rajah Expressway (AYE), West Coast Highway, Keppel Viaduct and Marina Coastal Expressway (MCE). Boosting accessibility, the Pasir Panjang MRT Station on the Circle Line is also about 500 metres away. The property is well served by surrounding amenities including Alexandra Retail Centre (ARC), Mapletree Business City I & II, Pasir Panjang Food Centre, and VivoCity.

The strategic location of Citilink Warehouse Complex makes it well-poised to benefit from the future development of the Greater Southern Waterfront. This presents itself as an excellent opportunity to benefit from the spill over impact, unlocking more value in the future.

Mr Shaun Poh, Executive Director, Capital Markets of Cushman & Wakefield says, “Demand for freehold industrial properties remain high as such properties are scarce and coveted. We expect interest from both investors and end-users to consider these two prime opportunities favourably, given that the properties are located in popular city fringe areas and well within established industrial clusters in Singapore.”

Mr Steven Tan, Managing Director of Capital Markets & Investment Sales at ERA highlighted, “Currently both properties are fully tenanted, offering immediate rental income to buyers. These opportunities offer an alternative asset class for investors who are interested in diversifying their portfolios beyond residential properties in Singapore, given that there are no restrictions for foreign ownership and Additional Buyer’s Stamp Duty (ABSD) is not payable.”

Ms Pamela Siow, Head of Logistics and Industrial, Capital Markets, JLL Singapore commented, “Both industrial properties have distinct advantages that unlock future value for investors. For Cititech Industrial Building, its accessibility allows quick access to various logistical and transport nodes. The Citilink Warehouse Complex would allow investors to tap onto the much-anticipated effects of the Greater Southern Waterfront which include new economic opportunities that will attract businesses in advanced industries.”