Pair of Business 2 factories in Tuas for sale at $25 mil
The residential properties have an overall gross floor surface area of around 91,859 sq ft and will be marketed with presenting production and manufacturing centers on the 1st ground and an ancillary office on the 2nd floor. The very first level has a roof height of 10m– 13m relying on its pitch roof style. This manufacturing place features a largely column-free floor surface style with 12 overhead cranes.
A pair of contiguous JTC warehouses at 2 & 4 Tuas Avenue 2 have actually been offered with an indicative cost of $25 million. CBRE is the single advertising representative for the revenue of both industrial real properties. The manufacturing facilities will be sold through private negotiation.
According to CBRE, the brand-new owner has the choice to more utilise the plot ratio by building up to the max built-up area of about 221,237 sq ft, greater than doubling the existing floor surface area. Graeme Bolin, head of occupier and leasing, industrial and logistics solutions at CBRE Singapore, claims:” [The properties are] two strong locations separately. When coupled collectively, they present a rare possibility to acquire a large commercial acreage with significant untapped gross floor area together with solid present building specifications plus fit-out.”
The manufacturing facilities remain on a combined plot of 158,005 sq ft that is zoned “Business 2” under the master plan. Both sites have a 30-year leasehold, with 2 Tuas Avenue 2 keeping a remaining lease of 23 years, and 4 Avenue Ave 2 holding up a remaining lease of 27 years.
The Hill @ One North Kingsford Development Pte Ltd
He adds that this kind of manufacturing facility real estate in Tuas with remaining rental of greater than twenty years is very tough to come by in the market, featuring direct allotment and also second markets.
” [The real estates are] especially beneficial for owner-occupiers who need industrial sites with larger acreage and covered storage facilities with great ceiling elevation, totally furnished with cranes. The lengthy standing lease period will certainly be even more beneficial in the coming years as supply for such land-based factories diminish via the expanding need for Tuas as the vital manufacturing center in Singapore,” claims Bolin.
