SINGAPORE - International Press Building, an industrial property at 26 Kallang Avenue, has been launched for sale at an indicative price of $30 million, sole marketing agent Savills Singapore said on Monday.
The detached six-storey property, located in the central region of Singapore, occupies a total site area of about 54,000 square feet (sq ft). It has a gross floor area of 134,000 sq ft and a plot ratio of 2.5 under the 2019 Draft Master Plan.
The property sits on JTC land that has a leasehold tenure of 60 years effective from Feb 16, 1990, with a remaining lease of about 31 years. It will be sold with vacant possession.
Sharon Teo, managing director of business space at Savills Singapore, said: "This is a rare opportunity to own a Business 1-use site located at the city fringe with superb accessibility to the MRT and amenities."
"The site's prominent and unblocked visibility facing the main Kallang Road will offer occupiers a strong branding presence," Ms Teo added.
In the immediate vicinity is a mix of industrial, commercial and residential developments, including Aperia Building, V Hotel Lavender, Jalan Besar Sport Centre, and condominiums.
Within walking distance are amenities such as Aperia Mall, fast food chains, supermarkets, coffeeshops, food courts and cafes. Public transport is available along Lavender Street, and from the Lavender and Bendemeer MRT stations which are a nine-minute walk away. The building is also accessible Nicoll highway, Central Expressway and East Coast Parkway.