Jun Jie Industrial Building Sold En Bloc to LWH Holdings for S$121.8 Million, 16% Above Guide Price

LWH Holdings secures the freehold industrial property at 153 Kampong Ampat after a competitive tender attracts more than a dozen bids

A S$16.8 million premium above the guide price and more than a dozen bids put the collective sale of Jun Jie Industrial Building in the spotlight.

The freehold industrial property at 153 Kampong Ampat has been sold to Singapore construction and property development group LWH Holdings for S$121.8 million, following interest from developers, investors and businesses seeking their own premises.

Exclusive marketing agent Knight Frank Singapore announced the sale on November 5.

Located in the Tai Seng and MacPherson industrial precinct, the seven-storey building had been launched for collective sale in late September with a guide price of S$105 million.

The winning price exceeded that figure by 16%, following a tender that closed on October 23.

More Than a Dozen Bids Reflect Broad Buyer Interest

The tender drew more than a dozen bids from buyers with different plans for the property, according to Knight Frank.

Industrial developers explored the possibility of strata redevelopment, while businesses considered the building as a sizeable freehold base for their operations.

Investors also assessed its potential for secondary workers’ dormitory use.

The range of interested parties shows that Jun Jie Industrial Building appealed to buyers considering both investment opportunities and premises for their own business activities.

A Freehold Corner Site in an Established Industrial Precinct

Jun Jie Industrial Building occupies approximately 43,354 sq ft of land and has an existing gross floor area of 114,969 sq ft.

Its S$121.8 million sale price translates to approximately S$1,059 per sq ft based on the existing gross floor area.

The site is zoned Business 1 with a plot ratio of 2.5 under the URA Master Plan 2025, according to the sale report.

Its corner position provides extensive road frontage and visibility.

Alongside its freehold tenure and location within the Tai Seng and MacPherson industrial precinct, these characteristics contributed to the property’s appeal.

The S$1,059 psf figure refers specifically to existing floor area, rather than land area or the floor area of a potential future development.

Who is LWH Holdings?

LWH Holdings is a Singapore group involved in construction, civil engineering, piling works and property development.

It operates through its core brand, Lim Wen Heng Construction.

Knight Frank confirmed LWH Holdings as the buyer but did not disclose the group’s plans for the property.

Although the tender attracted parties exploring several possibilities, those expressions of interest do not establish what LWH intends to do with Jun Jie Industrial Building.

Secondary Workers’ Dormitory Use Remains Subject to Approval

One possibility examined by investors was secondary workers’ dormitory use at the site.

According to Knight Frank, URA had indicated a willingness to support such use.

Any proposal would still require detailed planning submissions and the relevant approvals from the authorities.

An indication of support does not amount to an approved conversion. The sale report did not identify dormitory use as LWH’s chosen direction for the building.

Knight Frank Highlights Demand for Freehold Industrial Properties

Melvin Chay, interim head of capital markets at Knight Frank Singapore, attributed the strong tender response to continued momentum in Singapore’s industrial investment market and investor confidence in the sector.

He also highlighted growing interest in well located freehold sites that offer scale and flexibility for redevelopment.

For Jun Jie Industrial Building, the competitive bidding and premium over the guide price demonstrate buyer interest in this particular property.

As an industrial transaction, its outcome should be assessed separately from conditions in the residential collective sale market.

LWH’s Plans for Jun Jie Industrial Building Remain Undisclosed

The next development to watch is whether LWH announces plans for its newly acquired property at 153 Kampong Ampat.

The sale report leaves the intended use open.

Any subsequent redevelopment proposal or application for secondary workers’ dormitory use would provide a clearer picture of the building’s future, subject to the necessary planning process and approvals.

Read the Previous News Here: Jun Jie Industrial Building Freehold En Bloc Sale 2026