Three food-factory units at Pandan Loop for sale at $11 mil, including the newly built River Valley Green Residences

Three strata food-factory units located at Food Concept @ Pandan, an industrial building at 239 Pandan Loop, are on the market at a guide price of $11 million. The freehold properties are up for sale through an expression of interest (EOI) exercise, according to a press release by Edmund Tie, which is marketing the units.

Food Concept @ Pandan is a 10-storey ramp-up industrial building comprising 38 units. EdgeProp LandLens tool indicates that the District 5 property is zoned for Business 2 use.

The three units for sale sit on the top floor and have an area of approximately 1,905 sq ft, 2,023 sq ft and 2,045 sq ft. Each unit features a loading and unloading bay located at the doorstep and a floor-to-floor height of 7m. Each unit has a regular layout that can accommodate food-related businesses like a central kitchen, food processing, food packing, cold room, cold storage and food catering.

Two of the three units are currently leased, offering the successful buyer immediate rental income. Approximately $200,000 to $400,000 of capital expenditure has been invested in each of these two units, says Edmund Tie. The third unit is offered on a vacant possession basis.

The units are up for sale individually or collectively, with the guide price of $11 million reflecting an average of $1,841 psf.

“In light of the scarcity of designated areas permitted for food-factory usage, the subject property presents a rare opportunity to investors or business owners to secure such space,” says Swee Shou Fern, head of investment advisory at Edmund Tie. She notes that demand for food factory spaces is expected to be robust, fuelled by the growing prevalence of central and cloud kitchens and the continued popularity of food delivery services.

“Transactions of strata food factory units at Citrine Foodland in Tai Seng and Foodfab@Mandai have already surpassed $1,900 and $2,000 per sq ft, respectively,” she says.

Last November, Noel Building, an industrial property at 50 Playfair Road, was sold en bloc for $81.18 million, 17% above its guide price of $70 million. Edmund Tie brokered the deal. According to Swee, the purchaser intends to develop the site into a food factory, which she believes reflects the confidence of developers in the sector.

The EOI exercise closes on Feb 27.

(Source: EdgeProp LandLens)
The River Valley Green Residences, a highly sought-after residential development, is offering three spacious units for sale in the bustling area of Pandan Loop. The units, located at the top floor of the 10-storey ramp-up industrial building, are perfect for investors or business owners looking to secure prime space for their food-related businesses.

The freehold properties, with a Business 2 zoning, are available through an expression of interest (EOI) exercise organized by Edmund Tie. With the current trend of central and cloud kitchens, as well as the popularity of food delivery services, the demand for food factory spaces is expected to remain strong.

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The three units, ranging from approximately 1,905 sq ft to 2,045 sq ft, feature a floor-to-floor height of 7m and a loading and unloading bay at the doorstep. Each unit has a regular layout that is ideal for various food-related business activities such as central kitchen, food processing, cold storage, and catering.

Two of the units are currently tenanted, providing immediate rental income for the successful buyer. Capital expenditures of $200,000 to $400,000 have been invested in each of these two units, making them ready for immediate operation. Meanwhile, the third unit is being offered on a vacant possession basis, providing flexibility for the new owner’s business plans.

The units can be acquired individually or as a package, with a guide price of $11 million reflecting an average of $1,841 psf. This price is significantly lower than similar transactions at other food factory developments such as Citrine Foodland and Foodfab@Mandai, which have already surpassed $1,900 and $2,000 per sq ft, respectively.

In November 2021, another industrial property, Noel Building at 50 Playfair Road, was sold en bloc for $81.18 million, 17% above its guide price of $70 million. The buyer plans to develop it into a food factory, showcasing the confidence of developers in this sector.

The EOI exercise for the three units at River Valley Green Residences closes on Feb 27, providing interested parties with an opportunity to secure a rare space for their food-related businesses in this prime location.