A FREEHOLD industrial building off Paya Lebar Road is up for sale by public tender at a reserve price of $37 million.
This works out to a cost of $545 per square foot per plot ratio (psf ppr) for Henley Industrial Building, which sits on a 27,161 sq ft site and has a plot ratio of 2.5.
No development charge is payable for the four-storey development, which now has 17 industrial units and is zoned “Business 1”.
The breakeven cost for the site is about $792 psf, said CBRE, which is handling the sale. It noted that industrial property units in similar developments in the vicinity, such as Primex and AZ@Paya Lebar, have been sold at between $850 and $1,300 psf.