Tenure Watch · 2026-09-29
Buyers of industrial space are usually told to look at location, specification and price. Tenure gets less airtime, yet it shapes every long-term decision. A freehold industrial building at 153 Kampong Ampat has just been launched for collective sale at a guide price of $105 million, roughly $913 per square foot of plot ratio, according to EdgeProp, and it makes a handy contrast for anyone weighing a JTC leasehold.
The property sits in the Tai Seng and MacPherson industrial precinct on a corner plot of about 43,354 sq ft, with a seven-storey multi-use industrial building of about 114,969 sq ft gross floor area. It is zoned Business 1 with a plot ratio of 2.5, Knight Frank Singapore is the marketing agent, and the tender closes at 10am on 23 October. Reports also say authorities have indicated support in principle for a possible workers' dormitory conversion, but that depends on a detailed proposal and approvals, so it remains an open question.
What matters for our purposes is the word freehold. Owning freehold means no lease clock. A buyer can hold, redevelop or reposition over a horizon they choose, which is why institutions pay attention to sites like this and why a sale of this size draws headlines. A leasehold buyer accepts a different bargain. The land belongs to the state landlord for a fixed term, and the value of the asset is bound up with how much of that term remains and how the asset is used within it.
That is the trade-off facing a purchaser of GATE+. The development is a B2 ramp-up strata project in Jurong, District 22, held on a 33-year JTC lease that began on 27 August 2025. It has 265 production units and 2 canteens, and the estimated TOP is 30 January 2029. In exchange for the lease structure, buyers get a new building in an area with a planned transport link: the Tukang MRT station on the Jurong Region Line is estimated for 2029. The developer is Tukang Project Pte Ltd, a consortium of SLB Development, Boustead Projects, KSH and Ho Lee.
So which is better? That is the wrong question, because the two are not competing for the same buyer. A freehold plot of this scale suits a party with capital for a large ticket and a long redevelopment view. A strata unit in a leasehold project suits an operator who wants a production space of their own without the size of commitment a whole building demands. The relevant comparison is the fit with your business plan, your holding period and your financing, and you should test each against professional advice.
It is also worth being careful about what the Kampong Ampat headline does not tell you. It does not show what any leasehold unit is worth, and it does not set a benchmark for any other project. One tender in one precinct is a single data point. The result after 23 October will be more informative than the launch price, and even then it will speak for that site alone.
If you are thinking about tenure for your own operations, the GATE+ project details lay out the specification and timeline side by side. And if you would like to talk through leasehold versus freehold with someone who follows the sector daily, send us a note on the contact page and we will pick it up from there.
General information only, not financial or legal advice.
Source: EdgeProp Singapore. This article is independent commentary; GATE+ is not affiliated with the parties mentioned.