Pair of Business 2 factories in Tuas for sale at $25 mil
The real estates have an entire gross floor part of around 91,859 sq ft also will be sold with existing production and manufacturing centers on the 1st floor and an ancillary office on the 2nd floor. The very first level has a roof height of 10m– 13m relying on its pitch roof covering style. This manufacturing place features a largely column-free floor style with 12 overhead cranes.
He includes that this sort of factory property in Tuas with remaining leases of greater than two decades is very tough to come by in the marketplace, consisting of straight allocation and also secondary markets.
” [The properties are] especially beneficial for owner-occupiers that need industrial locations with larger land area and covered storehouses with excellent ceiling height, completely installed with cranes. The long remaining lease tenure will be a lot more useful in the coming years as source for such land-based factories diminish via the increasing need for Tuas as the essential manufacturing center in Singapore,” says Bolin.
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 maintaining a standing lease of 23 years, and also 4 Avenue Ave 2 holding up a remaining lease of 27 years.
A pair of adjoining 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 advertising agent for the sale of both industrialized real properties. The manufacturing facilities will be marketed with exclusive treaty.
According to CBRE, the brand-new owner has the choice to further utilise the plot ratio by building up to the max built-up area of about 221,237 sq ft, more than increasing the occurring floor surface area. Graeme Bolin, head of occupant and leasing, industrial and logistics solutions at CBRE Singapore, says:” [The properties are] two strong locations independently. When paired together, they present an uncommon chance to acquire a large industrial land area with significant untapped gross floor location and solid present structure specs and fit-out.”