Photo of Hoy Fatt Road (Source: vendor)
A six-storey B1 industrial building at 12 Hoy Fatt Road in the Alexandra/Leng Kee area is up for sale via an expression of interest (EOI) exercise with a guide price of $35 million.
The price works out to approximately $620 psf on the building’s gross floor area (GFA) of approximately 56,445 sq ft.
The fully tenanted building sits on a land area of approximately 20,230 sq ft and has a remaining leasehold tenure of about 30 years, expiring in 2056.
The building currently houses a diverse mix of tenants across all six levels. The ground floor serves as a carpark, while Level 2 is occupied by Mulberry Learning Centre, an award-winning preschool and infant care operator. Level 3 is configured as a furniture gallery, Level 4 as production/ancillary office, Level 5 as production/ancillary office/self-storage and Level 6 fully operated as self-storage facilities.
“The asset offers investors immediate, stable rental income with no vacancy risk at the point of acquisition,” says Aric Lim, Group District Director at Huttons Asia. “The diversified tenancy base across childcare, retail, production, and self-storage reduce concentration risk.”
He adds that the property also presents a value-add opportunity for incoming investors. The Level 3 furniture gallery tenant and Level 5 production/ancillary office has the option to vacate, which would allow both floors to be converted fully into additional self-storage space. Given the strong performance and structural demand underpinning the self-storage segment, such a reconfiguration could meaningfully increase the overall rental yield of the asset.
Lim notes that the self-storage segment continues to benefit from structural tailwinds, driven by Singapore’s limited residential storage space and the sustained growth of home-based businesses and e-commerce activity.
The property is located within the established Alexandra/Leng Kee business precinct, with Redhill MRT Station on the East-West Line approximately 550 metres away. Major retail and lifestyle destinations including IKEA Alexandra, VivoCity, and Harbourfront Centre are within a five- to ten-minute drive. The area also enjoys strong road connectivity to the Central Expressway (CTE) and Ayer Rajah Expressway (AYE).
“Investors’ interest in industrial assets are tilted towards those with a longer lease remaining as these assets are viewed as offering better value retention. The subject property is priced very competitively against recent listings and transactions in the Alexandra/Leng Kee area. Lastly there is no land rent payable,” added Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia.
The EOI for 12 Hoy Fatt Road will close on 15 July 2026 at 4:00 p.m.
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For further information, please contact:
Aric Lim, Group District Director, R007953J
Tel: +65 8383 2838 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)
