Pair of Business 2 factories in Tuas for sale at $25 mil
The residential properties have an overall gross floor surface part of around 91,859 sq ft also will be marketed with presenting production and manufacturing establishments on the first ground and an ancillary office on the second floor. The initial storey has a ceiling height of 10m– 13m relying on its pitch roof covering style. This manufacturing space features a largely column-free floor style with 12 top cranes.
The manufacturing facilities sit 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 keeping a standing lease of 23 years, and 4 Avenue Ave 2 maintaining a standing lease of 27 years.
According to CBRE, the brand-new proprietor has the alternative to further use the plot ratio by building up to the highest built-up area of regarding 221,237 sq ft, greater than increasing the occurring floor space. Graeme Bolin, head of tenant and leasing, industrial and logistics solutions at CBRE Singapore, claims:” [The estates are] two strong sites separately. When combined all together, they provide an unusual possibility to seize a big commercial land area with considerable untapped gross flooring location along with solid current building specifications plus fit-out.”
” [The real estates are] especially beneficial for owner-occupiers who call for commercial sites with bigger acreage and covered stockrooms with good roof height, completely furnished with cranes. The long remaining rent period will be even more valuable in the coming years as source for such land-based factories reduce through the expanding need for Tuas as the key manufacturing hub in Singapore,” says Bolin.
A pair of nearby JTC manufacturing facilities at 2 & 4 Tuas Avenue 2 have actually been offered with an indicative price of $25 million. CBRE is the only advertising agent for the revenue of both industrialized real properties. The manufacturing facilities will be offered with private negotiation.
He adds that this type of factory estate in Tuas with remaining leases of more than two decades is really tough to come by on the market, consisting of straight allotment and also second markets.