Developer Smartisan reveals industrial site plans for Mandai Estate
Recently bought in District 25 (Woodlands), the 10 and 12 Mandai Estate will be redeveloped by developer Smartisan Realty Pte. Ltd. into a freehold Food Factory, as revealed in an interview with 99. co.
With a total of around 162,915 square feet of floor space (on about 65,166.32 square feet of freehold land), this location would be ideal for food and beverage (F&B) startups, corporations, and multi-generational family enterprises to grow and experiment with new ideas.
In a public procurement process that began in October of last year, the site was opened by SRI, the exclusive marketing agency, and ended in December.
According to Bruce Lye, managing partner of SRI, who handled the consultation and sales for the sellers, “the tender drew interest from more than 20 parties ranging from developers and end-users alike.”
The buyer was represented by Roy Ang, Key Executive Officer (KEO) of Weston Vision Realty Pte. Ltd., who also would be in charge of the project. “There is less than 10% of private freehold land in land-scarce Singapore,” he added.
It’s quite difficult to find a private property with a freehold title in the B2 zone. It will unquestionably be a reliable investment tool with which to contend with devaluation and inflation.
The launch of the site is planned for the fourth quarter of 2023, and it will have the capacity to sell around 90 units.
The two parcels of freehold industrial property were listed for S$100,000,000 in the October 2018 procurement.
Land areas at 10 Mandai Estate are around 34,919 square feet, while those at 12 Mandai Estate are about 30,246 square feet. Under the Urban Redevelopment Authority’s Master Plan 2019, these areas are designated as Business 2 with a plot ratio of 2.5 and are located within a short drive from the Woodlands Checkpoint.
The properties are located near the future Sungei Kadut MRT station and Dunman Grand, which will link to the Downtown Line when it is finished in the middle of the 2030s, and are a part of the Sungei Kadut Planning Area, which is being revitalized to become Singapore’s first eco-district in an industrial estate, so must check out the Dunman Grand Floor Plan.
RELATED: The Bayron is a two-block condominium Relaunched For Sale With a Price of $376mil
