A terrace factory at Midview City spanning over three storeys has recently been put on the market, with an asking price of $6.2 million or $688 per square foot (psf). This sale is being facilitated by the exclusive marketing agent Colliers International.
This property is situated on Sin Ming Lane, within the bustling Sin Ming Industrial Estate, and consists of a basement and roof terrace. It boasts a total strata area of approximately 9,009 square feet and is classified as a “Business 1” site under the URA Masterplan 2019.
The 60-year leasehold factory building, which was completed in 2012, has been fully leased out and is currently being used as a childcare centre by Star Learner. According to Colliers International, the property has received approval for this purpose.
Midview City is within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line, making it easily accessible. In addition, it is conveniently connected to the residential areas of Bishan and Upper Thomson through two entrances via Sin Ming Lane and Bright Hill Drive.
Director of Industrial Services at Colliers, Raphael Lee, has stated that this sale presents a rare opportunity for investors, as the property will be sold with an existing preschool operator in place. Notably, as this is a Business 1 light industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners.
Interested parties can submit an Expression of Interest (EOI) by April 29 at 3pm.