At Citilink Warehouse Complex, a portfolio of 62 industrial properties is up for sale for $103 million
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A selection of 62 strata industrial freehold units in the Citilink Warehouse Complex located in Pasir Panjang is for sale through an expression of Interest (EOI) process. The portfolio has a starting value that is $103 million.
These strata homes are situated in Block 102E and span between 947 and 2,885 sq feet. In total, they cover the strata area combined that is 103,301 square feet. The buildings are% used by tenants, which gives prospective buyers immediate income when they purchase them, according to the an exclusive agency for marketing Cushman & Wakefield. The portfolio is a portion of around 34% percent of development.
Citilink Warehouse Complex is a twin-building eight stories high industrial development situated on Pasir Panjang Road. The site is classified as “Business 1” use as per the Master Plan 2019. The building’s specifications include parking spaces, high floor-to ceiling clearance, and the ability to load high floors.
The development is situated 500m from Pasir Panjang MRT Station on the Circle Line which is easily accessible via multiple expressways, including that of Ayer Rajah Expressway West Coast Expressway, Keppel Viaduct, Marina Coastal Expressway and East Coast Parkway. It’s also situated on the PSA Pasir-Panjang Terminals, which provides access to the ports on the sea.
“Freehold residential units that are strata-industrial in nature is hard to find and, more importantly, one located at the very doorstep of the PSA’s Pasir Panjang Terminals and is within walking distance from Pasir Panjang MRT Station and Mapletree Business City. This offers a unique opportunity for investors as for end-users looking for a large industrial spaces that are in close proximity to ports, and conveniently situated,” says Shaun Poh the chief executive officer of the capital market division in Cushman & Wakefield.
Poh emphasizes the fact that Citilink Warehouse Complex will also likely gain due to its location near the upcoming Greater Southern Waterfront. Poh adds that the prospective buyer will also have the option to exit the investment through either a bulk or individual strata sale.
The EOI process for the portfolio will end on May 25th at 3pm.