Pair of Business 2 factories in Tuas for sale at $25 mil
The manufacturing facilities rest on a combined 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 maintaining a remaining lease of 23 years, and also 4 Avenue Ave 2 holding up a standing lease of 27 years.
The real estates have a total gross floor surface area of around 91,859 sq ft also are going to be sold with occurring production and manufacturing establishments on the 1st ground and an ancillary office on the 2nd floor. The initial storey has a ceiling height of 10m– 13m depending on its pitch roof style. This production space includes a largely column-free floor design with 12 top cranes.
According to CBRE, the brand-new property owner has the choice to further make use of the plot ratio by building up to the highest built-up area of concerning 221,237 sq ft, greater than doubling the existing floor surface space. Graeme Bolin, head of tenant and leasing, industrial and logistics services at CBRE Singapore, says:” [The properties are] two strong sites individually. When combined collectively, they offer an uncommon chance to seize a huge industrial acreage with substantial untapped gross flooring location along with strong present building specifications including fit-out.”
He adds that this type of factory estate in Tuas with remaining rental of more than 20 years is really difficult to find by in the marketplace, including straight allotment as well as secondary markets.
” [The properties are] especially valuable for owner-occupiers who require industrial locations with bigger acreage and also covered storage facilities with excellent ceiling height, completely furnished with cranes. The lengthy standing lease period will certainly be even more beneficial in the coming years as source for such land-based factories reduce via the increasing demand for Tuas as the crucial production hub in Singapore,” claims Bolin.
A pair of adjoining JTC warehouses at 2 & 4 Tuas Avenue 2 have been put up for sale with an indicative rate of $25 million. CBRE is the single promotion agent for the deal of both industrial real properties. The warehouses will certainly be offered with exclusive treaty.
