This is “a rare combination of land area and buildable intensity in the private market”, says Colliers.
In Singapore’s largest private industrial land deal, four single-storey warehouse units at 10, 20, 30 and 40 Tuas South Street 1 changed hands for $322 million under a sale and purchase agreement between Far East Organization and StarNova Capital. The deal was brokered by Colliers’ capital markets & investment services team.
The quartet of assets are zoned Business 2, which designates land for general and heavy industrial activities. With a 2.5 plot ratio, the site spans approximately 1.17 million sq ft with a maximum gross floor area (GFA) of around 2.93 million sq ft.
