Pair of Business 2 factories in Tuas for sale at $25 mil
The properties have a total gross floor area of about 91,859 sq ft also will be offered with existing production and manufacturing centers on the 1st floor and an ancillary office on the second level. The very first floor has a roof elevation of 10m– 13m relying on its pitch roof covering style. This production place features a largely column-free floor surface style with 12 overhead cranes.
The factories remain 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 remaining lease of 23 years, and 4 Avenue Ave 2 holding a remaining lease of 27 years.
According to CBRE, the brand-new 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 doubling the existing flooring space. Graeme Bolin, head of occupier and leasing, industrial and logistics services at CBRE Singapore, says:” [The estates are] two strong locations separately. When paired all together, they present an uncommon possibility to take possession of a large industrial land area with substantial untapped gross floor surface area along with strong current structure specs and fit-out.”
He adds that this type of manufacturing facility property in Tuas with standing rent out of more than two decades is very challenging to find by in the marketplace, featuring direct allotment and secondary markets.
A set of nearby JTC manufacturing facilities at 2 & 4 Tuas Avenue 2 have actually been put up for sale with an indicative cost of $25 million. CBRE is the single advertising agent for the sale of both industrial properties. The manufacturing facilities will be marketed with private negotiation.
” [The real properties are] especially valuable for owner-occupiers that call for commercial locations with larger acreage and also covered warehouses with good roof height, fully furnished with cranes. The long standing lease term will certainly be even more important in the coming years as source for such land-based factories lessen with the expanding demand for Tuas as the essential manufacturing center in Singapore,” states Bolin.