Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, situated in highly sought-after locations, offer a fusion of opulence and practicality that is appealing to locals and foreigners alike. These residential properties are equipped with various facilities including swimming pools, fitness centers, and security services, elevating the overall living experience and making them a desirable choice for renters and homebuyers. From an investor’s standpoint, these attractive amenities result in higher rental returns and appreciation of property values in the long run. With the added benefits of a prime location and luxurious features, condos in Singapore are a sound investment opportunity.
A prime three-storey terrace factory located in Midview City has now hit the real estate market with a guide price of $6.2 million or $688 per square foot (psf). Colliers International, the exclusive marketing agent for the property, revealed this exciting news.
Situated along Sin Ming Lane in the bustling Sin Ming Industrial Estate, the factory includes a basement and roof terrace. This prime property boasts a total strata area of 9,009 square feet and is zoned as a “Business 1” site under the URA Masterplan 2019.
According to Colliers International, the 60-year leasehold factory is fully-leased and has obtained approval for use as a childcare centre. The property is currently tenanted by the reputable Star Learner preschool and childcare centre.
Midview City, a 60-year leasehold light industrial building completed in 2012, offers excellent connectivity as it is within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. The property is also easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
Colliers’ director of industrial services, Raphael Lee, commented that this property presents a rare opportunity for investors, especially as it will be sold with an existing reliable and reputable preschool operator in place. Moreover, this Business 1 light-industrial property is not subject to Additional Buyer’s Stamp Duty (ABSD), and foreign buyers are welcome to make the purchase. Interested parties can submit their Expressions of Interest (EOI) by April 29, 3 pm.
In conclusion, this is a prime opportunity that investors would not want to miss. The property has a great location, is fully leased, and offers a stable income stream. Interested parties can make inquiries with Colliers International for more information.