A building located at 21 Fan Yoong Road in the mature Jurong Industrial Estate in western Singapore is up for sale by Singapore-listed construction and civil company Tiong Seng. The firm had used the property as its corporate headquarters for seven years before moving to leased premises at 30 Kallang Place.
The 60,789 square feet site was acquired by Tiong Seng from JTC in 2017 on a 20-year lease. The building, which has a gross floor area of 155,037 sq ft, was built after the old structure was demolished. It is currently the tallest building in the Jurong Industrial Estate.
According to Sammi Lim, founder and executive director of Brilliance Capital, the exclusive marketing agent for the property, the building was specifically designed for Tiong Seng’s operational needs. The first six levels (1 to 6) are high-specification production spaces, while the top three floors (7 to 9) are modern ancillary office spaces that can house more than 250 staff. The office facilities include a boardroom, two meeting rooms, an open pantry, and a gym. The building also has a temporary on-site dormitory that can accommodate up to 36 workers, which is a rare feature and adds value for companies looking for integrated accommodation and workforce support.
Lim highlights that the building is versatile and can be used for alternative industrial purposes, such as marine and offshore equipment servicing, maintenance of heavy vehicles and equipment, manufacturing of cranes and other equipment, storage for high-voltage electrical systems, and more. The property is zoned as “Business 2”, which allows for heavy industrial and warehousing activities, such as servicing and repairing of construction equipment and materials storage.
The building is conveniently located near the Boon Lay MRT station and is set to benefit from the government’s ongoing investments in the western region of Singapore. These include the development of the Jurong Innovation District, a hub for advanced manufacturing, robotics, and R&D, and the future Tuas Port that will be the world’s largest fully automated port. According to the URA Master Plan 2025, the broader Jurong area is being transformed into a future-ready industrial and innovation corridor with improved infrastructure, smart logistics, and green connectivity.
The property is part of Tiong Seng’s asset disposal initiative, in which it had granted an option to sell another industrial property at 6 Tuas Street 11 for $10.5 million. The buyer is Maxwell Technology, a manufacturer of high-end photovoltaic equipment. As per a valuation report by JLL, the property at 21 Fan Yoong Road has a market value of $24.5 million, and the current guide price of $25 million is close to this valuation.
Investing in a condo has various advantages, including the option to leverage its value for future investments. This means that investors can use their condominium as collateral to secure additional financing for new investments, giving them the opportunity to expand their real estate portfolio. While this approach can potentially increase returns, it also comes with certain risks. It is essential to have a solid financial plan in place and to carefully consider the potential impact of market fluctuations before pursuing this strategy.
Interested parties can submit their offers through an expression of interest exercise that closes on August 26.