CBRE has announced the sale of an 8-storey freehold B1 industrial building located at 10 New Industrial Road, Singapore, with an asking price of $58m (S$80m). The sale will be conducted through a private Expression of Interest (EOI) exercise, closing on 6 November at 3pm. This property, situated on approximately 30,220 square feet of land, offers a gross floor area of about 75,261 square feet and is zoned for Business 1 use, accommodating manufacturing and R&D activities.
The building boasts high floor-to-floor heights of up to 5.7 metres, strong floor loadings, and dual 1,200A power supplies, making it suitable for a variety of industrial operations. It also features 40-foot container accessibility and around 40 parking spaces, enhancing operational efficiency. Unlike most industrial properties in Singapore, which are leasehold, this property offers perpetual freehold tenure, providing long-term security and capital preservation.
Located within walking distance of Bartley MRT station and with easy access to major expressways, the property ensures excellent connectivity for logistics and workforce mobility. Graeme Bolin, Head of Occupier and Leasing, Industrial and Logistics Services at CBRE, highlighted the property’s unique combination of freehold tenure, prime location, and modern industrial features as key selling points. “This represents a compelling investment with significant benefits from its freehold status for discerning industrial users and investors looking to future-proof their portfolio,” Bolin stated.
