SINGAPOREAN food and drink manufacturer Yeo Hiap Seng is selling its 450,000 square foot industrial building at 8 Ho Tin Street, Tuen Mun.
Mr Ian Hawksworth, manager of the industrial department of Richard Ellis, in Kowloon, said the building was one of the most important industrial/godown properties to be released in the last six months.
He said it had come on the market at a time of a significant undersupply of quality industrial warehousing accommodation for sale.
''Initial interest from investors and occupiers has been excellent, demonstrating the buoyancy of the industrial market and its resilience to external influences,'' he said.
''With a lack of prime product, particularly in Tuen Mun, I expect to see considerable competition to secure the purchase of the building,'' he said.
The sale of building - on offer at $275 million and with an anticipated tender date in early March - should provide an early indication of market sentiment after the Chinese New Year lull.
