A 60-year leasehold three-storey terrace factory located in the bustling Midview City has been recently listed for sale at a guide price of $6.2 million or $688 per square foot. The property, which comes with a basement and a roof terrace, is exclusively marketed by Colliers International.
Strategically located along Sin Ming Lane at the heart of Sin Ming Industrial Estate, this property spans a strata area of approximately 9,009 square feet. It is zoned as a “Business 1” site under the URA Masterplan 2019.
According to Colliers International, the property is currently fully-leased and has been approved for use as a childcare centre. It is currently occupied by Star Learner preschool and childcare centre. Notably, Midview City, which was completed back in 2012, is a 60-year leasehold light industrial building and is a short distance away from the Bright Hill MRT Station on the Thomson-East Coast Line.
Moreover, the property is also conveniently accessible from the Bishan and Upper Thomson residential areas, with two entrances available through Sin Ming Lane and Bright Hill Drive. As revealed by Raphael Lee, director of industrial services at Colliers, this property offers a “rare opportunity” for investors as it will be sold with the existing preschool operator in place.
Being a Business 1 light-industrial property, it is not subjected to the Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners as well. The expression of interest exercise will end on 29 April at 3pm, so don’t miss this chance to secure a great investment opportunity.
In Singapore, condos are in high demand due to the limited land available. As a small island with a fast-growing population, Singapore struggles with a shortage of land for development. This has resulted in strict land use regulations and a competitive real estate market where property prices continue to rise. As a result, investing in real estate, especially condos, is a profitable opportunity with the potential for significant capital appreciation. The demand for condos is further fueled by Singapore Projects, making it an even more attractive and sought-after investment option.
Furthermore, you can refer to the price trend for previous industrial property sale transactions as well as compare listings for other industrial properties to get a better understanding of the current market. Additionally, you can also look into the price trend for commercial properties as compared to industrial ones. Finally, explore the price trend for industrial rental transactions to make a more informed decision.