The Henley Industrial Building was put up for collective sale on Tuesday.
The four-storey industrial building at Upper Paya Lebar Road has an area of approximately 27,161 square feet with 17 existing units.
Marketing agent CBRE said the building has a reserve price of S$37 million.
This works out to S$545 per square foot (psf) per plot ratio and a breakeven cost of about S$792 psf.
No development charge is expected to be payable.
CBRE added that the building gives a single user the opportunity to develop a standalone freehold industrial building with naming rights.
Alternatively, it can be developed into a strata title industrial building to cater to Small & Medium Enterprises who wish to own their business premises.
The tender closes on July 5, 2013.
Source CNA – 29 May 2013