CapitaLand Development (CLD), a well-established real estate player, was pleased to announce that it has submitted the top bid of S$368.9 million for the redevelopment of the Kallang Way Industrial Business 2 (B2) food site. The strategic acquisition is set within the large land area of about 44,107 square metres in size at the established Kolam Ayer industrial estate with good proximity to key transportation hubs including Paya Lebar, Macpherson and Geylang.
The Kallang Way site is extremely well connected with good accessibility via major expressways like the Pan Island Expressway (PIE) and close proximity to a number of crucial MRT stations such as Aljunied, Geylang Bahru, Macpherson and Mattar. This robust infrastructure network complements the site’s good logistics capabilities, to support smooth and effective transportation and prompt delivery within Singapore. This type of connectivity is beneficial to end users, who can ask for ease of access and smooth operation by employees and guests.
The proposed redevelopment is anticipated to provide a nine storey food building which will be designed to serve as an efficient operation. The facility will be 40-footer container panda-ramp-up, and unit sizes can be flexible for end users. It is ideally located to support a variety of F&B businesses such as the manufacturers, caterers, storage operators and central kitchen operators who need to be near their end consumers. The scheme will also feature more than 1,000 square meters of retail space to reinforce the commercial offer at the complex.
With its redevelopment, the plan also aims to save a piece of Singapore’s industrial architectural heritage. The iconic three-storey terrace-showroom cluster factory building, a remnant from the 1980s, will be retained for adaptive re-use and incorporated into the new development to preserve the unique historical and aesthetic characteristics of the site.
Tan Yew Chin, CEO of CLD (Singapore), shared the company’s excitement and their eagerness to get going: “With our proven track record in food and industrial developments, CapitaLand is well-poised to contribute to Singapore’s vision of being a global leader in food innovation. With an increasing industry experience of over 530,000 square meters of industrial development, we have the expertise and know-how to be agile in delivering solutions that respond to changing market requirements – and at the heart of this approach is a deep focus on operational excellence and innovation.”
In the spirit of shared goals and synergy, CLD have entered into a cooperation with partners who think alike, among them an affiliate of Fraxtor Group. Together, this collaboration is expected to be.तransformative for the region, rooted in a common philosophy of revitalizing the area — and building upon momentum established by recent collaborations among both organizations. Fraxtor Group, its experience in managing regulated real estate investment platforms not only in Singapore but across borders has a history of successful projects managed over countries contributing to the trust for this venture.
The land parcel was awarded to CapitaLand Development. Details of this award can be found in the JTC release “JTC awards tender for first IGLS site with adaptive reuse of industrial building at Kallang Way”. The recognition highlights CapitaLand’s dedication to excellence and its creative approach towards industrial development, further solidifying the Group’s industry leading position in Singapore and the region.