A freehold development site for a food factory is up for sale by tender. Cushman & Wakefield is the exclusive marketing agent for the sale of 2C Mandai Estate, Singapore 729900.
2C Mandai Estate sits on a corner plot and has a land area of 4,703.7 sq m (50,630 sq ft approximately). It is one of a few limited freehold sites up for sale in this well-established Mandai Industrial Estate Food Zone. Under Master Plan 2019, the site is zoned “Business 2”, with a gross plot ratio of 2.5. This translates to a potential gross floor area of 11,759.25 sq m (126,575 sq ft approximately). In a recent Grant of Outline Permission from the Urban Redevelopment Authority (URA), the property can be developed into a “Multi-User” general industrial food factory, with a 76 metres SHD (Singapore Height Datum).
The property is well-connected to major transport facilities. Adjacent to Woodlands Road and Mandai Road, it is a short drive to the Bukit Timah Expressway (BKE) and the Kranji Expressway (KJE). It is also minutes away from Woodlands Checkpoint and this reduces the time needed in commuting resources and logistics from Malaysia.
It is accessible by public transport with multiple MRT stations such as Kranji Station (North-South Line), Bukit Panjang Station (Downtown Line), and the future Sungei Kadut MRT Interchange just a short bus ride away.
Ms. Christina Sim, Senior Director of Capital Markets at Cushman & Wakefield commented that “Singapore has set a “30 by 30” goal, where Singapore aims to produce 30% of its nutritional needs by 2030. Refreshed Food Services Industry Transformation Map (ITM) 2025 also spurs innovation in digitalisation and productivity, encouraging local food services to enter new markets, drive regional expansion and hence expanding their need for food factory space. Added to this, the surging popularity of food delivery services plus the growing number of food & beverage establishments seen in retail malls, the demand for food factories that offer essential amenities such as food processing and storage capabilities, cold room facilities, food distribution centers, as well as centralised or cloud kitchens situated in approved food zone localities has been robust and fast expanding. As a result, there has been a healthy uptake of strata food factories in new projects in the vicinity, such as FoodFab@Mandai, FoodVision @ Mandai, and CT FoodNex.
The indicative price for 2C Mandai Estate is $90 million. Including land betterment charges estimated to be $3.4 million, the land rate works out to about $738 per square foot per plot ratio (psf ppr). “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.”, Ms. Christina Sim added.
The tender for 2C Mandai Estate will close on 10 October 2023 (Tuesday) at 3.00pm.
