JLL has announced the collective sale of the Ching Shine Industrial Building, a freehold industrial development in Singapore, with a minimum price set at $113m. The site, built in the early 1980s, spans 49,308 square feet and includes 52 strata units. The tender closes on 3 April 2025.
The building, located on Shaw Road, is zoned ‘Business 1’ under the Urban Redevelopment Authority’s 2019 Master Plan, with a gross plot ratio of 2.5. Over 80% of the owners have agreed to the sale, with Donaldson & Burkinshaw LLP representing them. The site offers a gross floor area of approximately 137,341 square feet and presents opportunities for conversion into a food factory, pending approval from the Urban Redevelopment Authority (URA).
The National Environment Agency has confirmed that the site meets the requirements for redevelopment into a multi-user food factory. The Singapore Food Agency has also expressed no objection to the proposed conversion. Nicholas Ng, Senior Director of Capital Markets at JLL Singapore, noted the site’s appeal due to its freehold tenure and absence of Additional Buyer’s Stamp Duty, which can affect project timelines.
The property is strategically located near major expressways and just five minutes from Tai Seng MRT Station, enhancing its attractiveness. It is also close to notable food factories and amenities, such as Grantral Mall @ Macpherson. Ng highlighted the recent sale of the Noel Building, which exceeded its reserve price by 17%, as an indicator of strong demand in the area.
The tender for Ching Shine Industrial Building presents a rare opportunity for developers, family offices, and owner-occupiers seeking long-term growth and strategic positioning in Singapore’s industrial sector.
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