For $100 million, Smartisan Development purchases two freehold industrial plots in Mandai Estate

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Marina View Residences for sale

Smartisan Development has purchased two adjacent freehold industrial sites located at 10, and 12 Mandai Estate at a cost of 100 million. The price is the land value of $657 per square foot per plot ratio (psf ppr) with the land improvement charge. Smartisan is planning to develop the site to become a freehold food manufacturing facility. Smartisan is not new to the industrial market as it has also created One K.A. Macpherson within Kampong Ampat and E9 Premium@Woodlands which is a commercial property located in the Woodlands Industrial Estate.

Marina View Residences for sale 905 private residential units, at least 548,959 sq ft and 540 hotel units in 279,861 sq ft. There’s an optional 21,528 sq ft of commercial space and 21,528 sq ft of retail space.

The plots in the 10 and 12 Mandai Estate can be found on Woodlands Road. The plots are allocated for commercial 2 uses with an area ratio of 2.5 in the Master Plan. 10. Mandai Estate sits on a surface of 34,919 sq feet. the plot adjacent to 12, Mandai Estate occupies 30,246 sq feet.

“Business 2 freehold industrial property isn’t often available to purchase,” says Bruce Lye who is the director of SRI who brokered the deal. He expects the upcoming Sungei Kadut Eco District to rejuvenate the neighbourhood and provide the opportunity for more climate-resilient and environmentally-responsive industrial designs.

Nearby nearby, the previous BHL Factories at 2A and 2B Mandai Estate were sold to the real construction and real estate firm Chiu Teng Group, in July 2022. The price of the purchase is believed to be higher than $130 million, with SRI being the broker as well. The site will be transformed to become the new CT FoodNex which is a 10-storey freehold multi-user food facility. The property is located on an untitled site that covers 80,288 square feet and includes 101 strata-titled apartments. This industrial project is perfect in central kitchen operation as well as production and processing of food items and cold storage.

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