Pair of Business 2 factories in Tuas for sale at $25 mil
The manufacturing facilities sit on a combined 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 holding a standing lease of 23 years, and also 4 Avenue Ave 2 holding a standing lease of 27 years.
A set of adjoining JTC factories at 2 & 4 Tuas Avenue 2 have actually been put up for sale with an indicative price of $25 million. CBRE is the sole promotion agent for the sale of both industrialized properties. The factories will be offered via private negotiation.
According to CBRE, the new proprietor has the alternative to more use the plot ratio by building up to the highest built-up area of regarding 221,237 sq ft, greater than doubling the existing flooring space. Graeme Bolin, head of occupier and leasing, industrial and logistics services at CBRE Singapore, claims:” [The estates are] 2 strong locations individually. When coupled together, they provide an uncommon opportunity to seize a big industrial acreage with substantial untapped gross flooring location together with strong present building specs and fit-out.”
The residential properties have an entire gross floor surface area of around 91,859 sq ft and will be offered with presenting production and manufacturing establishments on the first ground and an ancillary office on the second ground. The initial floor has a roof height of 10m– 13m counting on its pitch roofing style. This production space features a largely column-free floor design with 12 top cranes.
He adds that this type of manufacturing facility property in Tuas with standing rental of more than two decades is really challenging to come by in the marketplace, including straight allotment and also second markets.
” [The real properties are] especially valuable for owner-occupiers who call for industrial locations with larger acreage and covered storehouses with good ceiling elevation, totally equipped with cranes. The long remaining rent tenure will certainly be even more useful in the coming years as source for such land-based factories lessen through the expanding need for Tuas as the crucial production hub in Singapore,” claims Bolin.