Pair of Business 2 factories in Tuas for sale at $25 mil
The factories sit on a combined plot of 158,005 sq ft which is zoned “Business 2” under the master plan. Both locations have a 30-year leasehold, with 2 Tuas Avenue 2 maintaining a standing lease of 23 years, and also 4 Avenue Ave 2 maintaining a remaining lease of 27 years.
According to CBRE, the new owner has the choice to further make use of the plot ratio by building up to the max built-up area of regarding 221,237 sq ft, more than doubling the occurring flooring space. Graeme Bolin, head of tenant and leasing, industrial and logistics solutions at CBRE Singapore, claims:” [The properties are] 2 strong locations individually. When combined all together, they offer a rare opportunity to take possession of a huge industrial acreage with significant untapped gross flooring area together with solid present structure requirements including fit-out.”
The residential properties have an entire gross floor part of about 91,859 sq ft and also definitely will be sold with occurring production and manufacturing facilities on the first level and an ancillary office on the 2nd level. The initial level has a roof height of 10m– 13m relying on its pitch roofing design. This manufacturing space includes a largely column-free floor layout with 12 overhead cranes.
He adds that this kind of manufacturing facility real estate in Tuas with standing leases of more than 20 years is really difficult to come by in the market, featuring direct allotment and also second markets.
A pair of adjoining JTC warehouses at 2 & 4 Tuas Avenue 2 have actually been offered with an indicative price of $25 million. CBRE is the single promotion representative for the sale of both industrial properties. The manufacturing facilities will certainly be offered with private negotiation.
” [The real estates are] especially valuable for owner-occupiers who call for industrial locations with larger acreage and covered storehouses with good ceiling elevation, fully installed with cranes. The lengthy standing lease contract tenure will certainly be a lot more valuable in the coming years as supply for such land-based factories diminish with the increasing need for Tuas as the essential manufacturing hub in Singapore,” claims Bolin.
