Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm has been exclusively appointed for the sale of 62 freehold strata industrial units in Citilink Warehouse Complex via Expression of Interest on 20 April 2023, Thursday.
The portfolio comprises 62 units ranging from 88 sqm to 268 sqm in Block 102E, with a combined strata area of approximately 9,597 square metres (103,301 square feet). Currently 100% occupied by multiple tenants, the potential buyer will enjoy immediate income upon purchase. The portfolio represents approximately 34% share of the development, thus offering considerable influence within the development. Citilink Warehouse Complex is an 8-storey twin-building industrial development, zoned ‘Business 1’ under Master Plan 2019.
Citilink Warehouse Complex boasts superior building specifications, with well-considered traffic and goods management, ample car parking facilities, high floor to ceiling clearance and floor loading. The Property enjoys unrivalled connectivity to the seaports as it is located directly across the PSA Pasir Panjang Terminals.
It is 500 metres to Pasir Panjang MRT station on the Circle Line, which is a few train stops away from Singapore Science Park and One North. It is also highly accessible via multiple expressways such as the Ayer Rajah Expressway (AYE), West Coast Expressway (WCP), Keppel Viaduct, Marina Coastal Expressway (MCE) and East Coast Parkway (ECP).
Mr. Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield shares “Freehold strata industrial units are rare to come by and especially one that is right at the doorstep of the PSA Pasir Panjang Terminals, and within walking distance to Pasir Panjang MRT Station and Mapletree Business City. This presents an exceptional opportunity for investors as well as end-users seeking large industrial space within close proximity to the ports and is centrally located.”
Mr Poh added, “The redevelopment of the current ports into the future Greater Southern Waterfront and its transformational impact could spill over to the surrounding properties. Located just a stone’s throw away from the district, it could enhance the future redevelopment potential of the Property, thereby unlocking more value in the future. The potential buyer also enjoys the flexibility to exit the investment via bulk and/or individual strata sale.”
