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A freehold property on Kim Chuan Lane that could be converted into a six-storey multi-person food factory (Photo: ERA)
SINGAPORE () – A factory building on 15,761 square meters of vacant industrial land at 7 Kim Chuan Lane has been put up for sale through expressions of interest (EOI). ERA Realty Network, the property’s exclusive marketing agency, listed the starting price at $43 million.
The land’s workplace 2 (industrial) zone plot ratio is 2.5. Temporary permission has been obtained to redevelop the site into a six-storey, multi-occupancy food factory with a potential gross floor area of approximately 39,000 square metres.
Located on Kim Chuan Lane, the property can be accessed via Upper Paya Lebar Road. BreadTalk is close to the Tai Seng area, home to Charles & Keith and Sakae Sushi. MRT Tai Seng Station on the Circle Line is the closest.
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The property has the potential to be redeveloped and subdivided into a layer called industrial development. “Strate units will appeal to food companies who prefer food factories located on the outskirts of the city as they can deliver products to the city center at short notice,” says Steven Tan, ERA’s director of capital markets and investment sales. .Ask most real estate agents in 2023 and they’ll tell you that any lot under $4 million is likely a rental (or condo or high-rise condo). However, our latest checks show that this is not true. There are some places where freehold ownership can be acquired for less than $4 million; only if you’re not tied to large regions like Orchard. Here are some places to look:
The following includes land assets with 999-year leases. We highlighted many transactions around $3 to $4 million; however, there may be units within the property that sell for more than $4 million. All data was taken between August 2022 and September 2023.
Adelphi Park is located in the Upper Thomson area and is relatively well known to locals there. It is a landlocked residential area just off Thomson Plaza and is “fenced” from Upper Thomson Road by a high fence.
This place has benefited greatly from the renovation of Thomson Plaza. Despite complaints about the 2019 renovation, recent reviews from residents have been overwhelmingly positive. This no longer looks like the 40-plus-year-old mall (although it actually is) and now has more upscale retail, dining and other services. Besides Guardian there is also NTUC FairPrice.
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As well as being in a low density area, Adelphi Park Estate is close to Windsor Nature Park and the wider MacRitchie Reservoir area. Spanning 75 hectares, Windsor Park is a large nature reserve and some hikers claim it is just as good, if not better, than Bukit Timah Nature Reserve.
Adelphi Park is also one of the few mainland residential areas with good access to public transportation. Upper Thomson MRT (TEL) is just outside Thomson Plaza and a short walk from many houses (maybe shorter if the house is on Jasmine Road).
There is a bus stop in Minton (nearby circle) where bus 113 runs directly to Kovan MRT (NEL) in just a few minutes. It is just one train stop away from Serangoon MRT (NEL, CCL). Alternatively, bus 58 can be found at another nearby bus stop (around Jln. Chermat) which will go directly to Serangoon MRT (which is closer but not really walkable). daily).
In any case, residents here have quick access to NEX Megamall, one of the largest retail centers in the Serangoon area.
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Lorong Ah Soo is also close to the Hougang HDB area, less than a 10-minute walk. This is a multi-building cluster with the usual cafes, shops and small grocery stores. There is also a Prime supermarket in this area, frequented by Lorong Ah Soo residents.
In addition, we have also heard some complaints about conflicts with non-residents who tend to block driveways (roads are very narrow here, as in most off-road residential areas). A reader who lived in Ah Soo Garden until 2017 also warned that clearing trash could mean your street will be blocked by a dump truck; He would have to slowly follow her to the main road, and that could be annoying.
Let’s get the biggest annoyance out of the way: Avila Terrace is pretty close to Changi Prison. It’s only five minutes across Mary’s Way; And in our experience, this either bothers people a lot or it doesn’t bother them at all.
The biggest drawback here is the lack of convenience. There’s not much in this area, although Parc Komo (a mixed-use development) has solved some problems. Parc Komo has NTUC FairPrice and several restaurants and is just a five-minute walk away. For anything else you’ll probably have to drive.
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Loyang Point will be the nearest shopping mall, about five minutes away by car; but residents are more likely to go to Changi Business Park (seven minutes) or Changi Airport (five minutes); So, if you love places like the jewel of Changi, you might be happy to live here.
Land is not generally purchased on lease, but there may be some demand from workers in the aviation industry or other businesses in the Changi Business Park. If you work in these places, Avila Park may also be a good place to live.
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The Garden of Beauty is…well, unique. This is land ownership but the land is not actually in a residential area. Land here is surrounded by HDB blocks and higher density flats, and the proximity to the motorway means there is quite a bit of traffic noise.
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Although this may be a disadvantage for some, we must say that its location is quite convenient. The Sengkang HDB cluster across the road provides the usual hub amenities; and Rivervale Shopping Center (which has NTUC FairPrice) is just a five-minute walk away.
Access to the MRT station is also relatively convenient. Rumbia LRT is within walking distance (five minutes if you pass through Block 146 in Rivervale), which will take you to Sengkang MRT (NEL). You can also walk to Sengkang MRT relatively easily, and the presence of Compass One Mall here also makes things easier.
On the one hand, land ownership; but the surroundings make you feel like you are in the heart of HDB. We can’t decide if this is an advantage or a disadvantage (because some people specifically want the experience of low-density living on land). The best we can say is to explore the area and see how it works for you.
Bedok Park is located near Limau Garden, one of the old residential areas. This region was seen as a “cheap and lofty” residential area until the end of the 80s. That’s why you can find a pretty eclectic mix of old and new housing styles here.
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Like most low-density areas, Bedok Park is not the closest to an MRT station or shopping malls (privilege and privacy
Main attraction.) But for those who drive, this location has a lot to offer. The first of these will be Sceneco Residence, which will be built soon; this is an integrated development at Tanah Merah MRT (EWL).
Seneca Residence is owned by MCC Land, which has already proven that it can offer a good tenant mix with The Poiza.
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