Citimac Industrial Complex En Bloc Sold for $430.1M

Citimac Industrial Complex is a B1 industrial property that is locate in District 13. This 110-unit property is launched into tender last 2017 and was up for $430 million. The en bloc site was spacious and is very much ideal for various industrial and commercial use.

As the tender close, it was bagged by an undisclosed buyer for a $430.1 million price. Speculations have said that the buyer might be somewhat linked to the Zhao family from China but no confirmation yet. This entity also the one responsible in the development of CitiVive the previous year. The only confirmed information is that the buyer of the site is a foreign company.

Brokered by Edmund Tie & Co., unit owners for Citimac will be paid an amount ranging between $2.1 million to $10 million each. This translates to about $1,047 psf ppr.

Raffles United Holdings have signed the transfer documents amounting to $6.1 million gross proceeds on January 2019. The sale was completed last March 2019.

Previously, the Citimac Industrial Complex has been up for sale in 2014 with an enormous price of $550 million.

 

 

CITIMAC INDUSTRIAL COMPLEX LOCATION

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The location of Citimac Industrial Complex is exceptionally accessible. It is one of the prime areas in District 13 as it is just a few minutes drive to the Paya Lebar Airbase. The property is also surrounded with a nice list of MRT stations for a convenient travel especially for daily commuters. Some of the stations in the nearby vicinity are Tai Seng MRT, Mattar MRT and the MacPherson Downtown Line.

Drive and take the advantage of the nearby Kallang Paya-Lebar Expressway (KPE). The convenience that this site has is not only through its accessibility but also the surrounding amenities. There are a number of schools within a short distance with Cedar Girls’ Primary School and Maris Stella High School in the closest distance.

Shopping malls are also within a few minutes of drive. PLQ Mall and the Tay Junction – Vertex are couple of these malls. Dining amenities like the Circuit Road Market & Food Centre are also close by.

 

MODE OF TRANSPORT

• Tai Seng MRT
• Ubi MRT
• MacPherson Downtown Line
• Mattar MRT
• Bartley MRT
• Kallang Paya Lebar Expressway (KPE)

NEARBY AMENITIES

• Stamford American International School
• Cedar Girls’ Secondary School
• Tay Junction – Vertex
• PLQ Mall
• Circuit Road Market & Food Centre
• Prime Supermarket

 

POTENTIAL OF THE SITE

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Citimac Industrial Complex en bloc is pretty much spacious. With 139,789 square feet land size, the site has a great potential for redevelopment. Citimac is zoned as “B1 Industrial-White” by the Urban Redevelopment Association (URA), this property has a plot ratio of 3.5.

The site can be redeveloped into a luxurious building for light industrial or B1 use. Ideal for F&B, retail space and offices, this property can provide a great opportunity for your business. Its frontage can be doubled with about 250 meters along Paya Lebar and MacPherson roads.

With a freehold tenure, the future development in this site will have a very outstanding potential to attract buyers and investors.

 

CITIMAC INDUSTRIAL COMPLEX NEW CONDO REGISTRATION OF INTEREST

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