Savills Singapore is pleased to announce their appointment as sole marketing agent on the sale of 53 Loyang Drive. The guide price on the sale of the property via private treaty is S$25 million.
The subject property is located along Loyang Drive, off Pasir Ris Drive 3 and Loyang Avenue. It is in the Eastern region of Singapore. The immediate neighbourhood comprises mainly of industrial properties and HDB residential blocks.
The property is an industrial development consisting of two 4-storey industrial blocks adjoined by a single-storey building. It has a total site area of approximately 65,060 square feet with a gross floor area (GFA) of approximately 116,427 square feet. Under the Urban Redevelopment Authority's Master Plan 2019, the land is zoned Business 2, with a plot ratio of maximum 2.5. The property has a JTC leasehold tenure of 60 years, effective from 1992, with a remaining lease of circa 31 years.
The subject development enjoys close proximity to amenities and facilities like the Loyang Point where there is an array of amenities such as grocery and retail shopping, schools as well as food centres like Changi Village.
Public transportation is available along the main road and it is in close proximity to the Tampines Expressway. Current MRT stations are Pasir Ris and Tampines East located a short drive away. With the Cross Island Line Station targeting to open by Year 2029, the future Loyang station will create much conveniences for occupiers at the Loyang Industrial Estate in the long term.
Sharon Teo, Managing Director, Business Space, Savills Singapore, who is handling the sale, commented: “With a remaining land lease of 31 years, the property would present as an attractive proposition for prospects looking for longer leasehold property. Based on permissible plot ratio of 2.5, the current plot ratio of 1.8 remains under-utilised that will offer prospects with potential asset enhancement or redevelopment opportunities.”
The guide price via private treaty sale is S$25 million