JLL has announced the sale of an industrial property at 11 Wan Lee Road, Singapore, with an indicative price of $9.1m (S$12.5m). The site, classified as “Business 2” under the Urban Redevelopment Authority’s Draft Masterplan 2025, offers substantial development potential with an underutilised plot ratio. The current gross floor area (GFA) of 41,994 square feet can potentially be increased to 106,000 square feet, pending approval from authorities.
The property, currently operating as a pharmaceutical facility, is located within a designated JTC food zone, making it ideal for conversion to food manufacturing. With approximately 25 years remaining on its land lease, the site provides ample opportunity for redevelopment. Pamela Siow, Head of Logistics and Industrial, Capital Markets at JLL Singapore, highlighted the property’s unique value, stating, “Its position within a JTC food zone, despite current authorisation for pharmaceutical manufacturing, makes it exceptionally valuable.”
Strategically positioned within the Chin Bee food and beverage manufacturing cluster, the site offers excellent connectivity via the Ayer Rajah Expressway and is less than 10 kilometres from Tuas Cheque Point. The upcoming Tuas Mega Port and Enterprise MRT Station will further enhance accessibility, making the property attractive for intensive food processing operations.
The property is available for sale via private treaty, presenting a significant opportunity for investors looking to capitalise on Singapore’s ’30 by 30′ food security initiatives and the site’s strategic location.
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