Privilege Motors Lists Rare Freehold Factory Building Tagore Lane Sale 238 Mil

Privilege Motors was founded by businessman Gary Goh in 2011, specializing in selling pre-owned luxury cars from top brands such as Audi, BMW, Mercedes-Benz, Porsche, and Rolls-Royce. In addition to selling cars, the company offers financing, insurance coverage, and hire purchase services.As the business grew, Goh saw the opportunity to purchase a four-storey, single-use factory building in the prime location of Tagore Lane. This acquisition allowed him to set up Privilege Motors’ flagship showroom and headquarters, showcasing their range of luxury vehicles. The property, which is on a prominent corner lot with double frontage, features a state-of-the-art glass facade that lets in natural light while insulating the building from the heat outside.AdvertisementAdvertisementThe first two levels were renovated with a budget of $1 million to $2 million to create the car showroom, complete with a car lift for easy movement of vehicles between floors. The first level can accommodate up to 35 cars, while the second level can display 10 luxury cars. This showroom was an instant success, but Goh eventually decided to consolidate his real estate holdings, including his showroom at Automobile Megamart, into one location due to changes in the shopping habits of car buyers. Instead of visiting traditional car marts, people now prefer to search for cars on social media or through online platforms, leading to more competition in the market.Goh appointed Alvin Choo, a senior associate district director at PropNex, as the sole marketing agent for the sale of the building. The property, which is on a freehold site of 7,343 sq ft and has a total floor area of 14,701 sq ft, is suitable for a wide range of industries, from manufacturing to engineering and construction. It is also ideal for potential uses such as a showroom, warehouse, data centre, or office. Interest also came from dormitory operators, but the temporary permission for the fourth floor to be used as a workers’ dormitory has since lapsed and would need to be reapplied for by a new owner. The current asking price for the building is $23.8 million.

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