Ching Shine Industrial Building Collective Sale 113 Mil

The JLL has announced that the Ching Shine Industrial Building is now available for collective sale at a starting price of $113 million. The sole agent for the building has confirmed that over 80% of the owners have agreed to the sale at the minimum price. The freehold building is located along Shaw Road and has a total of 52 strata units, with a 100m frontage. It covers a land area of 49,308 sq ft and has a gross floor area of approximately 137,341 sq ft.

Built in the early 1980s, the building is zoned as “Business 1” with a gross plot ratio of 2.5 under the URA Master Plan 2019. According to the agency, the site is suitable for conversion into a food factory, as it meets the buffer requirements set by the National Environment Agency (NEA) and has received in-principle non-objection from the Singapore Food Agency after being informed by URA. Alternatively, the freehold asset could also be an attractive investment opportunity for family offices seeking long-term growth, as well as owner-occupiers looking to establish a corporate presence.

The senior director of capital markets at JLL Singapore, Nicholas Ng, believes that the site will also catch the attention of developers, as there is no additional buyer’s stamp duty, which can delay project timelines. The property is conveniently located near major expressways such as the PIE, CTE, and KPE, and is also within walking distance from Tai Seng MRT Station on the Circle Line. It is situated in the Tai Seng Industrial estate, surrounded by food factories like Breadtalk IHQ, Sakae Building, and Food Empire Building, along with amenities like Grantral Mall @ Macpherson and 18 Tai Seng.

In November 2023, a freehold Business 1 industrial building at 50 Playfair Road, known as the Noel Building, sold en bloc for $81.18 million, 17% higher than its $70 million guide price. Ng states that this transaction demonstrates the strong demand for such assets in the area and expects a similar response for Ching Shine Industrial Building.

The tender for the site closes on April 3 at 3pm, and interested buyers are welcomed to submit their bids.