Pair of Business 2 factories in Tuas for sale at $25 mil
The properties have an entire gross floor part of around 91,859 sq ft and definitely will be marketed with existing production and manufacturing centers on the 1st floor and an ancillary office on the 2nd level. The first level has a roof height of 10m– 13m relying on its pitch roof design. This manufacturing area includes a largely column-free floor surface style with 12 overhead cranes.
” [The real properties are] especially helpful for owner-occupiers who need commercial sites with bigger land area and also covered warehouses with great roof elevation, fully equipped with cranes. The long remaining rent tenure will certainly be much more important in the coming years as source for such land-based factories diminish with the increasing need for Tuas as the crucial production hub in Singapore,” says Bolin.
The factories sit on a consolidated 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 standing lease of 23 years, as well as 4 Avenue Ave 2 holding a remaining lease of 27 years.
He adds that this type of factory real estate in Tuas with remaining rental of greater than twenty years is extremely difficult to come by in the market, consisting of straight allocation and also additional markets.
According to CBRE, the brand-new owner has the option to more utilise the plot ratio by building up to the maximum built-up area of concerning 221,237 sq ft, more than doubling the occurring floor surface space. Graeme Bolin, head of occupier and leasing, industrial and logistics solutions at CBRE Singapore, states:” [The estates are] two strong sites individually. When coupled all together, they offer a rare possibility to acquire a large commercial land area with substantial untapped gross floor area together with solid current building specs and fit-out.”
A set of nearby JTC warehouses at 2 & 4 Tuas Avenue 2 have been put up for sale with an indicative cost of $25 million. CBRE is the only advertising broker for the sale of both industrial real properties. The warehouses will certainly be offered with confidential negotiation.