Pair of Business 2 factories in Tuas for sale at $25 mil
The real estates have an overall gross floor part of about 91,859 sq ft also will be offered with presenting production and manufacturing facilities on the 1st level and an ancillary office on the 2nd floor. The initial level has a roof elevation of 10m– 13m counting on its pitch roof layout. This production space includes a largely column-free floor surface layout with 12 top cranes.
” [The real estates are] especially useful for owner-occupiers who call for industrial locations with bigger land area and covered warehouses with great ceiling height, completely furnished with cranes. The lengthy remaining rent period will certainly be much more beneficial in the coming years as source for such land-based factories decrease through the expanding demand for Tuas as the key manufacturing hub in Singapore,” claims Bolin.
The factories 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 keeping a remaining lease of 23 years, and 4 Avenue Ave 2 holding up a remaining lease of 27 years.
According to CBRE, the new property owner has the alternative to further make use of the plot ratio by building up to the max built-up area of about 221,237 sq ft, more than doubling the existing floor space. Graeme Bolin, head of occupier and leasing, industrial and logistics solutions at CBRE Singapore, says:” [The properties are] two strong locations independently. When paired together, they present an unusual opportunity to acquire a huge commercial land area with considerable untapped gross flooring area and strong current structure specifications and fit-out.”
He adds that this type of manufacturing facility real estate in Tuas with remaining rental of more than twenty years is really challenging to come by in the marketplace, consisting of straight allotment and additional markets.
Kassia Condo showflat location
A set of nearby JTC warehouses at 2 & 4 Tuas Avenue 2 have been put up for sale with an indicative price of $25 million. CBRE is the sole promotion representative for the sale of both industrialized properties. The warehouses will be sold via confidential arrangement.
