and E9 Premium@Woodlands on EdgeProp.sg

Smartisan Development has recently acquired two freehold industrial sites, located at 10 and 12 Mandai Estate, for a total of $100 million. The transaction equates to a land rate of $657 psf per plot ratio (psf ppr), taking into account the land betterment charge. Smartisan, which has extensive experience in industrial development, plans to redevelop the sites into a freehold food factory.

The plots of 10 and 12 Mandai Estate are off Woodlands Road and, according to the 2019 Master Plan, are zoned for business 2 with a plot ratio of 2.5. 10 Mandai Estate is on a 34,919 sq ft land area, and the adjoining site of 12 Mandai Estate has a 30,246 sq ft land area.

Bruce Lye, managing partner of SRI – the company that brokered the sale – noted that the scarcity of business 2 Freehold industrial land makes this investment an appealing opportunity. On top of that, the upcoming Sungei Kadut Eco District is expected to provide an uplift for the neighbourhood.

Redevelopment of the popular Jurong East JCube Shopping Mall into J’Den Condo, a J’Den Condo 40-storey residential and commercial development project with a price tag of S$2,000 to S$2,100 per square foot. Expected to be completed by 2027 and launching in the second half of 2023.

In July 2022, two neighbouring sites of 2A and 2B Mandai Estate, formerly BHL factories, were sold to Chiu Teng Group. The purchase price was higher than $130 million, and SRI brokered the deal. The new project, CT FoodNex, is slated to be a 10-storey, multi-user freehold food factory, covering an area of 80,288 sq ft and featuring 110 strata-titled units. It is ideal for central kitchen operations, food processing and production, and cold storage.

One KA @ Macpherson and E9 Premium@Woodlands are two of Smartisan Development’s properties, located nearby. For more information on commercial properties in Singapore, please visit our commercial directory.