Pair of Business 2 factories in Tuas for sale at $25 mil
The manufacturing facilities sit on a mixed plot of 158,005 sq ft which is zoned “Business 2” under the master plan. Both locations have a 30-year leasehold, with 2 Tuas Avenue 2 keeping a continuing lease of 23 years, and 4 Avenue Ave 2 holding up a standing lease of 27 years.
He includes that this type of factory estate in Tuas with standing leases of more than two decades is very difficult to find by on the market, featuring direct allotment and also secondary markets.
A set of contiguous JTC factories at 2 & 4 Tuas Avenue 2 have actually been offered with an indicative cost of $25 million. CBRE is the sole advertising agent for the sale of both industrialized properties. The warehouses will certainly be offered through private negotiation.
The real estates have an overall gross floor surface part 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 elevation of 10m– 13m counting on its pitch roof covering style. This production place includes a largely column-free floor style with 12 top cranes.
” [The real estates are] especially beneficial for owner-occupiers who call for commercial sites with bigger acreage and also covered warehouses with good ceiling elevation, fully equipped with cranes. The lengthy standing lease tenure will certainly be even more useful in the coming years as source for such land-based factories decrease with the growing demand for Tuas as the crucial manufacturing center in Singapore,” claims Bolin.
According to CBRE, the brand-new property owner has the alternative to further make use of the plot ratio by building up to the max built-up area of concerning 221,237 sq ft, more than increasing the occurring flooring space. Graeme Bolin, head of occupier and leasing, industrial and logistics solutions at CBRE Singapore, states:” [The estates are] two strong locations independently. When combined together, they offer a rare chance to seize a big commercial acreage with substantial untapped gross flooring area along with solid present structure specs plus fit-out.”