Two warehouse buildings at Gul Crescent put on market for over $13m

SINGAPORE - Two large interlinked warehouse buildings in Gul Industrial Estate are up for sale by expression of interest, said its sole marketing agent JLL.

The sellers, an import and distribution business servicing the print industry, are relocating in order to optimise their operations, and are seeking offers in excess of S$13 million, said JLL.

The property at 3 Gul Crescent near the Gul Circle MRT station has been zoned "Business 2" and consists of warehousing and production space, office areas, loading and unloading bays and a large open yard.

It has a plot ratio of 1.4, a gross floor area (GFA) of about 64,495 square feet and sits on a leasehold site of 117,499 sq ft with a balance lease of about 22.5 years.

Nicholas Ng, JLL director, capital markets, said: "This property will be a good fit for companies looking for a corporate presence or to expand within the Gul Industrial Estate. The site is currently built up to a 0.55 plot ratio and has the potential to be refurbished and redeveloped to maximise its plot ratio by an additional 100,004 sq ft of GFA.

"The built up of the existing two warehouses with large floor plate, high floor loading and high ceiling being well maintained, will allow an end user to move in easily to optimise the space. The potential buyer could also eventually expand on this site and maximise on the potential GFA in the near future."

The expression of interest exercise closes on Sept 14 at 3pm.