Pair of Business 2 factories in Tuas for sale at $25 mil
The residential properties have an overall gross floor surface area of around 91,859 sq ft and definitely will be offered with presenting production and manufacturing facilities on the 1st floor and an ancillary office on the second floor. The very first floor has a roof elevation of 10m– 13m relying on its pitch roof layout. This manufacturing space includes a largely column-free floor surface design with 12 overhead cranes.
According to CBRE, the brand-new proprietor has the choice to further use the plot ratio by building up to the maximum built-up area of concerning 221,237 sq ft, more than doubling the existing flooring space. Graeme Bolin, head of occupant and leasing, industrial and logistics services at CBRE Singapore, states:” [The estates are] 2 strong sites individually. When coupled together, they provide a rare opportunity to seize a big industrial land area with substantial untapped gross floor surface area and strong current structure requirements plus fit-out.”
The manufacturing facilities rest on a mixed plot of 158,005 sq ft that is zoned “Business 2” under the master plan. Both locations have a 30-year leasehold, with 2 Tuas Avenue 2 holding a remaining lease of 23 years, and 4 Avenue Ave 2 holding up a standing lease of 27 years.
He includes that this type of manufacturing facility property in Tuas with standing leases of more than two decades is very difficult to come by in the marketplace, including direct allotment and also additional markets.
A set of adjoining JTC manufacturing facilities at 2 & 4 Tuas Avenue 2 have been offered with an indicative price of $25 million. CBRE is the single marketing representative for the sale of both industrialized real properties. The warehouses will be sold with confidential arrangement.
” [The properties are] especially helpful for owner-occupiers who require commercial sites with larger land area and also covered storehouses with excellent roof elevation, fully equipped with cranes. The long remaining rent period will be even more important in the coming years as source for such land-based factories decrease with the growing need for Tuas as the crucial production center in Singapore,” says Bolin.
