Pair of Business 2 factories in Tuas for sale at $25 mil
The manufacturing facilities remain on a combined plot of 158,005 sq ft which is zoned “Business 2” under the master plan. Both sites have a 30-year leasehold, with 2 Tuas Avenue 2 keeping a remaining lease of 23 years, and also 4 Avenue Ave 2 holding a remaining lease of 27 years.
” [The properties are] especially valuable for owner-occupiers who call for industrial sites with larger land area and covered storehouses with good ceiling height, fully equipped with cranes. The long remaining lease contract term will be a lot more beneficial in the coming years as supply for such land-based factories decrease through the growing need for Tuas as the essential manufacturing center in Singapore,” claims Bolin.
According to CBRE, the new owner has the alternative to more use the plot ratio by building up to the maximum built-up area of about 221,237 sq ft, more than increasing the existing floor surface space. Graeme Bolin, head of tenant and leasing, industrial and logistics solutions at CBRE Singapore, states:” [The properties are] 2 strong sites independently. When combined together, they provide an uncommon chance to seize a big industrial land area with substantial untapped gross floor surface area along with strong current building requirements plus fit-out.”
He adds that this type of factory estate in Tuas with standing rental of more than twenty years is very difficult to come by in the marketplace, consisting of straight allotment and additional markets.
The residential properties have a total gross floor part of around 91,859 sq ft and also will be sold with presenting production and manufacturing establishments on the first level and an ancillary office on the 2nd ground. The first level has a ceiling elevation of 10m– 13m relying on its pitch roof style. This production area features a largely column-free floor surface design with 12 top cranes.
A set of adjoining JTC warehouses at 2 & 4 Tuas Avenue 2 have been put up for sale with an indicative cost of $25 million. CBRE is the single advertising agent for the sale of both industrialized real properties. The factories will be offered through exclusive negotiation.