Pair of Business 2 factories in Tuas for sale at $25 mil

The residential properties have a total gross floor area of about 91,859 sq ft and will be marketed with existing production and manufacturing facilities on the 1st floor and an ancillary office on the second ground. The first floor has a ceiling elevation of 10m– 13m counting on its pitch roofing layout. This production space includes a largely column-free floor surface style with 12 top cranes.

” [The real properties are] especially valuable for owner-occupiers that require industrial locations with larger land area and covered warehouses with excellent ceiling height, completely installed with cranes. The long standing lease tenure will be a lot more valuable in the coming years as source for such land-based factories lessen with the growing need for Tuas as the key manufacturing center in Singapore,” says Bolin.

The Arden floor plan

The manufacturing facilities remain on a combined 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 keeping a remaining lease of 23 years, and 4 Avenue Ave 2 holding a remaining lease of 27 years.

He includes that this type of manufacturing facility estate in Tuas with remaining rent out of greater than 20 years is really challenging to come by in the market, featuring direct allotment and also secondary markets.

According to CBRE, the new owner has the option to further make use of the plot ratio by building up to the max built-up area of about 221,237 sq ft, greater than doubling the existing floor space. Graeme Bolin, head of tenant and leasing, industrial and logistics solutions at CBRE Singapore, states:” [The estates are] 2 strong locations individually. When paired collectively, they provide an unusual possibility to take possession of a huge industrial acreage with substantial untapped gross floor area and strong present building specifications including fit-out.”

A pair of nearby JTC factories at 2 & 4 Tuas Avenue 2 have been put up for sale with an indicative price of $25 million. CBRE is the only advertising agent for the revenue of both industrial properties. The manufacturing facilities will certainly be marketed through confidential negotiation.


error: Content is protected !!