An exclusive marketing agent, Colliers International, has announced that a three-storey terrace factory located at Midview City is currently up for sale at a guide price of $6.2 million or $688 per square foot. The property is strategically located along Sin Ming Lane and is situated in the bustling Sin Ming Industrial Estate, making it an ideal investment opportunity.
Spanning across a total strata area of approximately 9,009 square feet, this factory features a basement and a rooftop terrace. It is zoned as a “Business 1” site under the URA Masterplan 2019 and is fully leased, with a 60-year leasehold tenure. The property is currently being used as a childcare centre by Star Learner preschool and is approved for this purpose.
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According to Colliers International, this is a rare opportunity for potential investors, especially since the property will be sold with the existing preschool operator in place. This adds significant value to the property, making it even more appealing for investment.
Completed in 2012, Midview City is a 60-year leasehold light industrial building that offers convenient access to Bright Hill MRT Station on the Thomson-East Coast Line. It is also easily accessible from Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive. The property is situated in a prime location, making it a highly desirable investment for potential buyers.
Raphael Lee, the director of industrial services at Colliers, believes that this property’s strategic location and existing tenant make it a lucrative investment opportunity. Additionally, as a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners.
The exclusive marketing agent has announced that interested parties can submit their Expression of Interest by April 29 at 3pm. This property is definitely worth considering, given the current market trends and its attractive features.