Pair of Business 2 factories in Tuas for sale at $25 mil
The factories sit 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 maintaining a standing lease of 23 years, as well as 4 Avenue Ave 2 holding a standing lease of 27 years.
A pair of adjoining JTC warehouses at 2 & 4 Tuas Avenue 2 have been put up for sale with an indicative rate of $25 million. CBRE is the single promotion broker for the sale of both industrialized real properties. The manufacturing facilities will be offered with private negotiation.
The properties have an overall gross floor area of about 91,859 sq ft and also will be sold with existing production and manufacturing facilities on the 1st ground and an ancillary office on the 2nd ground. The very first level has a roof height of 10m– 13m relying on its pitch roof covering style. This manufacturing place includes a largely column-free floor surface style with 12 overhead cranes.
He includes that this kind of manufacturing facility estate in Tuas with remaining rent out of more than twenty years is really tough to find by on the market, featuring direct allocation and also additional markets.
” [The properties are] especially useful for owner-occupiers who require industrial locations with bigger land area and also covered storehouses with good roof elevation, totally furnished with cranes. The lengthy remaining rent term will certainly be even more important in the coming years as source for such land-based factories reduce via the expanding need for Tuas as the essential manufacturing center in Singapore,” states Bolin.
The Landmark Condo Chin Swee Road
According to CBRE, the new proprietor has the alternative to more use the plot ratio by building up to the max built-up area of regarding 221,237 sq ft, more than increasing the occurring floor space. Graeme Bolin, head of tenant and leasing, industrial and logistics services at CBRE Singapore, states:” [The estates are] two strong locations separately. When paired together, they provide an unusual chance to seize a big commercial land area with substantial untapped gross flooring area along with solid current building specifications and fit-out.”
