Pair of Business 2 factories in Tuas for sale at $25 mil
The real estates have an entire gross floor surface part of about 91,859 sq ft also definitely will be sold with presenting production and manufacturing facilities on the first floor and an ancillary office on the 2nd ground. The very first floor has a ceiling height of 10m– 13m depending on its pitch roofing layout. This manufacturing area features a largely column-free floor design with 12 top cranes.
He adds that this kind of factory real estate in Tuas with remaining rental of more than two decades is extremely difficult to come by on the market, featuring direct allotment and also additional markets.
The manufacturing facilities 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 standing lease of 27 years.
A pair of adjoining JTC factories at 2 & 4 Tuas Avenue 2 have been offered with an indicative cost of $25 million. CBRE is the sole marketing agent for the sale of both industrialized properties. The warehouses will certainly be marketed with exclusive arrangement.
” [The properties are] especially valuable for owner-occupiers that need industrial sites with larger land area and also covered warehouses with great ceiling height, fully installed with cranes. The long standing lease period will be much more valuable in the coming years as source for such land-based factories lessen with the growing need for Tuas as the key manufacturing hub in Singapore,” states Bolin.
According to CBRE, the 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, more than doubling the occurring flooring space. Graeme Bolin, head of tenant and leasing, industrial and logistics solutions at CBRE Singapore, claims:” [The properties are] two strong sites individually. When coupled collectively, they present an uncommon opportunity to acquire a huge commercial land area with substantial untapped gross flooring location and strong current building specs plus fit-out.”