Pair of Business 2 factories in Tuas for sale at $25 mil
The real estates have an overall gross floor area of about 91,859 sq ft also definitely will be offered with presenting production and manufacturing facilities on the 1st floor and an ancillary office on the second level. The initial level has a ceiling height of 10m– 13m depending on its pitch roof design. This manufacturing area features a largely column-free floor surface design with 12 top cranes.
According to CBRE, the new property owner has the choice to further utilise the plot ratio by building up to the maximum built-up area of regarding 221,237 sq ft, more than increasing the existing floor area. Graeme Bolin, head of occupier and leasing, industrial and logistics services at CBRE Singapore, states:” [The estates are] two strong locations independently. When combined collectively, they provide a rare possibility to seize a huge commercial acreage with significant untapped gross flooring location along with solid present structure requirements plus fit-out.”
” [The real properties are] especially helpful for owner-occupiers who need commercial sites with bigger land area and covered warehouses with great ceiling height, totally furnished with cranes. The lengthy standing lease tenure will be even more valuable in the coming years as supply for such land-based factories lessen through the growing need for Tuas as the crucial manufacturing hub in Singapore,” says Bolin.
The factories rest on a mixed 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 standing lease of 23 years, as well as 4 Avenue Ave 2 maintaining a remaining lease of 27 years.
He includes that this sort of manufacturing facility estate in Tuas with standing rent out of greater than 20 years is extremely difficult to come by on the market, consisting of straight allotment as well as additional markets.
A set of contiguous JTC manufacturing facilities at 2 & 4 Tuas Avenue 2 have actually been put up for sale with an indicative price of $25 million. CBRE is the single promotion agent for the sale of both industrial real properties. The factories will be sold with private arrangement.