Hersing Corp property at 21 Tampines Street 92 up for sale at $68 mil

Two industrial sites at 23 and 21 Tampines Street 92 are for auction, according to the marketing agent CBRE. These sites belong to the brand management and the service company Hersing Corp.
The total area of land for each of the sites is 214,880 square feet. The land is leased for a period of 30 years that began on September 9, 2007 and an area ratio of 1.4.

Lentor Hills Residences showflat location in one of the most attractive areas exclusively set for residential.

Hersing Corp has not disclosed an estimate price, however CBRE reports that the properties located at 21 , and 23, Tampines Street 92 are valued at $39 million and $29 million respectively.

The site located at 21 Tampines Street 92 has a multi-user food facility that is six stories high and has an area of gross floor (GFA) that is 165,462 square feet. It has the floors for food processing facilities and two floors of additional usage. The property is serviced with two passenger lifts and two cargo lifts of 2 tonnes that have 19 car parking as well as 15 truck parking spaces. Level 6 has office along with showrooms.

The property located at 23 Tampines Street 92 is an eight-storey industrial structure with an GFA of 132.836 sq feet. The building comprises four levels of warehouses, three levels of parking for cars and one floor reserved for additional use. The property is also serviced with two passenger lifts and two cargo lifts, which have accessibility to the entire level. There are 282 parking spaces for cars as well as 19 truck parking areas.

Graeme Bolin, CBRE’s head of leasing and occupier services logistics and industrial services, says the properties are perfect for food facilities looking to establish a footprint in Singapore’s eastern region of Singapore.

“The properties will be particularly appealing to owners and investors alike due to its location close the Changi Airport and major town centers such as Tampines, Bedok and Pasir Ris that will provide instant access to a large group of workers, as well as users like restaurants, airlines catering logistics, food distribution and logistics within the area,” he says.

Harry Chua, chairman of Hersing Corp, notes that restaurants are seeking ways to cater to the increasing demand from consumers. “As as such, top-quality central kitchens in prime locations like Tampines will give them the opportunities to operate in a unified space to satisfy the growing demand without radically expanding their restaurant space,” he says.