A highly sought-after three-storey terrace factory located at Midview City has recently been placed on the market with a guide price of $6.2 million or $688 per square foot (psf), exclusively marketed by Colliers International.
This impressive property, which includes a basement level and a roof terrace, is situated in the heart of the vibrant Sin Ming Industrial Estate, along Sin Ming Lane. Standing at an impressive total strata area of 9,009 square feet, this factory is zoned as a “Business 1” site under the URA Masterplan 2019.
According to Colliers International, this 60-year leasehold property is currently fully leased and has been approved for use as a childcare centre. It is presently tenanted by Star Learner preschool and childcare centre.
The property boasts an excellent location, with close proximity to the Bright Hill MRT Station on the Thomson-East Coast Line. It is also well-connected to the Bishan and Upper Thomson residential areas, with convenient access via Sin Ming Lane and Bright Hill Drive.
The property is expected to be sold with the existing preschool operator in place, making it a rare opportunity for potential investors. As a Business 1 light-industrial property, it also presents an attractive option for foreign buyers as it is not subject to Additional Buyer’s Stamp Duty (ABSD). The Expression of Interest (EOI) exercise will close on April 29 at 3pm.
For those seeking other industrial properties for sale, recent past transactions and price trends are available on EdgeProp Landlens. Raphael Lee, director of industrial services at Colliers, believes that this property presents an excellent opportunity for investors, given its prime location and existing tenant in place.
Browse through listings for both commercial and industrial properties to compare price trends and past rental transactions to make a well-informed decision.