Three Storey Strata Terraced Factory Midview City 62 Mil
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A three-storey terrace factory located in the heart of Sin Ming Industrial Estate has been put up for sale by exclusive marketing agent Colliers International with a guide price of $6.2 million or $688 per square foot. This property, which comprises of a basement and roof terrace, has a total strata area of around 9,009 square feet and is zoned as a “Business 1” site under the URA Masterplan 2019.
Situated along Sin Ming Lane, this 60-year leasehold property is fully leased and currently approved for use as a childcare centre. The factory is currently occupied by Star Learner preschool and childcare centre. Midview City, where the property is located, is a light industrial building that was completed in 2012 and is within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. Additionally, it is easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
According to Raphael Lee, director of industrial services at Colliers, this property presents a rare opportunity for investors as it will be sold with the existing preschool operator in place. Moreover, as it is a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners. The Expression of Interest (EOI) exercise will close on April 29, 3pm.
In the past, industrial property sales have shown positive price trends, making this property a potentially lucrative investment choice. For comparison, the table below showcases the price trend for industrial and commercial properties, as well as past industrial sale and rental transactions. (Table should be inserted below).
Considering the favorable price trend and potential rental income, this three-storey terrace factory at Midview City is a promising investment opportunity for interested buyers. With the EOI exercise set to close on April 29, investors are advised to act fast and secure this rare opportunity.