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

A set of adjoining JTC factories at 2 & 4 Tuas Avenue 2 have actually been put up for sale with an indicative rate of $25 million. CBRE is the only promotion agent for the revenue of both industrialized real properties. The manufacturing facilities will be marketed with exclusive negotiation.

He adds that this kind of factory real estate in Tuas with remaining leases of greater than two decades is very challenging to come by in the marketplace, featuring direct allocation and also additional markets.

The residential properties have an overall gross floor part of about 91,859 sq ft and also will be marketed with existing production and manufacturing facilities on the first level and an ancillary office on the 2nd ground. The very first floor has a roof elevation of 10m– 13m relying on its pitch roof style. This production space features a largely column-free floor design with 12 top cranes.

The factories sit on a mixed 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 holding a remaining lease of 23 years, and also 4 Avenue Ave 2 holding up a standing lease of 27 years.

According to CBRE, the brand-new proprietor has the choice to further use the plot ratio by building up to the highest built-up area of about 221,237 sq ft, more than increasing the existing floor surface area. Graeme Bolin, head of tenant and leasing, industrial and logistics solutions at CBRE Singapore, claims:” [The estates are] 2 strong locations independently. When combined all together, they present a rare opportunity to take possession of a huge commercial land area with substantial untapped gross flooring location and solid present building specs plus fit-out.”

” [The real estates are] especially valuable for owner-occupiers that require commercial locations with bigger acreage and covered storage facilities with good ceiling height, totally equipped with cranes. The long standing lease term will certainly be even more important in the coming years as supply for such land-based factories diminish via the increasing demand for Tuas as the key manufacturing center in Singapore,” says Bolin.

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