SINGAPORE (EDGEPROP) - The International Press Building, a detached industrial building at 26 Kallang Avenue, is on the market for $30 million, or about $224 psf on the floor area. Savills Singapore is the sole appointed agent for the sale.
The six-storey property sits on a 54,000 sq ft site that has an effective lease of about 31 years left on the original 60 years, and a plot ratio of 2.5 under the 2019 Draft Master Plan. The building also has a gross floor area of about 134,000 sq ft. The property will be sold with vacant possession.
The International Press Building at 26 Kallang Avenue (Picture: Savills Singapore)
The vicinity comprises a mix of industrial, commercial, and residential developments, including Aperia Building; V Hotel Lavender; Jalan Besar Sports & Recreation Centre, Swimming Complex and Stadium; as well as private condos. It is accessible by Kallang Road as well as Lavender and Bendemeer MRT Stations.
“This is an extremely rare and excellent opportunity to own a Business 1-use site located at the city fringe, and with such superb accessibility to MRT and amenities. The site’s prominent and unblocked visibility facing main Kallang Road will offer occupiers with a strong branding presence in the central region of Singapore,” says Sharon Teo, managing director of business space at Savills Singapore.
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