A freehold site at Mactaggart Road at the heart of Tai Seng enclave was sold to Lian Beng Group for $31 million, the former Khong Guan Building which is 8 storey building. The site currently has a floor area of 21,123sf and zone under B1.
At the price of $31 million, it work out to be $544 psf ppr. This development is close to Tai Seng MRT and numerous expressways nearby such as Pan Island Expressway (PIE) and Kallang Paya Lebar (KPE).
This development will be rebuild to B1 Food Industrial with high ceiling named as “Mactaggart FoodLink“. B1 Industrial is likely highly sought after as it is rare for an industrial development zone for food processing.