Developer Smartisan Realty Pte. Ltd. has shared their plans with 99.co to redevelop the recently acquired 10 and 12 Mandai Estate in District 25 (Woodlands) into a freehold Food Factory.
Combined, the approx. 65,166.32-sqft freehold land (Gross Floor Area (GFA) of approx. 162,915 sqft) would serve as a vibrant environment for F&B entrepreneurs, companies and multi-generation family businesses to thrive and develop new innovative food concepts.
Check out: Factory for Sale in SmartFood@Mandai
The site was launched in a public tender exercise by SRI, the exclusive marketing agency, in October last year and closed in December.
“The tender drew interest from more than 20 parties ranging from developers and end-users alike”, said Bruce Lye, Managing Partner of SRI, who represented the sellers in the consultancy & sales.
“There is less than 10% of private freehold land in land-scarce Singapore,” said Roy Ang, Key Executive Officer (KEO) of Weston Vision Realty Pte. Ltd., who represented the buyer and will be helming the project.
“Such freehold B2 private land is extremely hard to come by. It will definitely be a stable investment instrument against depreciation and inflation.”
The site is expected to be launched by the fourth quarter of 2023 and is able to fetch approximately 90 units.
During the October tender last year, the two freehold industrial land properties were put up with a guide price of S$100 million.
Individually, 10 and 12 Mandai Estate have land areas of approximately 34,919 sq ft and 30,246 sqft respectively. They are a short drive from Woodlands Checkpoint and are zoned as Business 2 with a plot ratio of 2.5 under the Urban Redevelopment Authority’s Master Plan 2019.
As part of the Sungei Kadut Planning Area, which is being rejuvenated to become Singapore’s first eco-district in an industrial estate, the properties are also near the upcoming Sungei Kadut MRT station, which will connect to the Downtown Line when it is completed by mid-2030s.
“The building has been thoughtfully designed with unique attributes that are tailored to meet the needs of end-users and are in line with the Government’s ITM 2025 and 30 by 30 policy,” said Ang.
The ITM 2025 is the Monetary Authority of Singapore (MAS)’s growth strategy to strengthen Singapore’s position as a leading international financial centre in Asia.
The 30 by 30 policy is the Singapore Food Agency’s plan to build up the agri-food industry’s capability to sustainably produce 30% of Singapore’s nutritional needs by 2030. It is part of the Singapore Green Plan 2030.
“This not only ensures that the building is marketable and able to meet the needs of users, but it also positions it as a strategic investment in line with the government’s vision for the future.”
Ang further shared that with the success of their recent developments, Smartisan Development has expressed their intent to acquire two additional sites within the next few months to develop innovative and successful projects to add to their portfolio of accolades.
Smartisan is known for developing OneKA@Macpherson and E9 Premium@Woodlands, among others.
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