Pair of Business 2 factories in Tuas for sale at $25 mil
The residential properties have an entire gross floor surface area of around 91,859 sq ft and are going to be offered with occurring production and manufacturing facilities on the first floor and an ancillary office on the 2nd level. The very first storey has a ceiling height of 10m– 13m relying on its pitch roof style. This production space includes a largely column-free floor layout with 12 overhead cranes.
” [The properties are] especially valuable for owner-occupiers who need industrial sites with larger acreage and also covered storehouses with good ceiling height, completely equipped with cranes. The lengthy remaining rent term will be a lot more important in the coming years as supply for such land-based factories decrease with the increasing need for Tuas as the key manufacturing center in Singapore,” claims Bolin.
The manufacturing facilities remain on a consolidated plot of 158,005 sq ft which is zoned “Business 2” under the master plan. Both sites have a 30-year leasehold, with 2 Tuas Avenue 2 keeping a standing lease of 23 years, and also 4 Avenue Ave 2 holding up a standing lease of 27 years.
He includes that this sort of factory real estate in Tuas with remaining rent out of more than 20 years is very hard to come by on the market, featuring straight allotment as well as secondary markets.
According to CBRE, the brand-new owner has the alternative to further make use of the plot ratio by building up to the highest built-up area of concerning 221,237 sq ft, greater than increasing the occurring floor space. Graeme Bolin, head of occupier and leasing, industrial and logistics solutions at CBRE Singapore, says:” [The estates are] 2 strong locations independently. When coupled all together, they provide an unusual chance to take possession of a big commercial acreage with substantial untapped gross floor surface location together with strong present structure specs plus fit-out.”
A set of nearby JTC factories at 2 & 4 Tuas Avenue 2 have been offered with an indicative rate of $25 million. CBRE is the sole marketing broker for the sale of both industrial properties. The warehouses will be offered with confidential arrangement.