Pair of Business 2 factories in Tuas for sale at $25 mil
A set of contiguous JTC factories at 2 & 4 Tuas Avenue 2 have actually been put up for sale with an indicative price of $25 million. CBRE is the only advertising agent for the revenue of both industrialized real properties. The factories will certainly be marketed with exclusive treaty.
” [The real estates are] especially beneficial for owner-occupiers who call for commercial locations with bigger land area and covered storehouses with good roof elevation, fully equipped with cranes. The lengthy standing lease contract term will certainly be even more important in the coming years as source for such land-based factories diminish via the increasing need for Tuas as the vital production center in Singapore,” says Bolin.
He includes that this sort of manufacturing facility property in Tuas with remaining leases of greater than two decades is very challenging to find by on the market, consisting of straight allotment as well as second markets.
The residential properties have an overall gross floor area of around 91,859 sq ft and also are going to be offered with existing production and manufacturing centers on the 1st floor and an ancillary office on the second ground. The first level has a ceiling elevation of 10m– 13m counting on its pitch roof layout. This production space includes a largely column-free floor surface layout with 12 overhead cranes.
The manufacturing facilities remain on a consolidated 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 holding a remaining lease of 23 years, as well as 4 Avenue Ave 2 maintaining a standing lease of 27 years.
According to CBRE, the brand-new owner has the option to more utilise the plot ratio by building up to the highest built-up area of concerning 221,237 sq ft, greater than increasing the occurring flooring area. Graeme Bolin, head of occupant and leasing, industrial and logistics services at CBRE Singapore, says:” [The properties are] 2 strong locations individually. When combined all together, they offer an uncommon possibility to acquire a huge commercial land area with substantial untapped gross floor location along with solid present building specifications and fit-out.”
