Tuas View Link Industrial Site Sale 138 Mil
Colliers, a marketing agent, has announced that an industrial site located at 51 Tuas View Link will be put up for sale through an expression of interest (EOI) exercise. The guide price for the site is set at $138 million, and it offers a total area of 456,810 sq ft. The site, which is zoned for Business 2 industrial use, is a non-JTC asset and has a private leasehold tenure starting from 1996. This means that there are approximately 31 years left on the lease.
The site currently has a plot ratio of 0.7 and comprises of two blocks of single-storey warehouses with mezzanine levels. The total gross floor area (GFA) of the warehouses is 323,831 sq ft. According to Colliers, the site has the potential to be redeveloped with a maximum plot ratio of 2.5 or a maximum GFA of 1.14 million sq ft. This provides the option for an intensified usage and long-term capital appreciation. As it is a private leasehold asset, the site is not subjected to lease assignment or resale restrictions, offering full ownership flexibility, explains the agency.
Located near bustling retail hotspots such as The Star Vista and VivoCity, Lyndenwoods is the perfect development for both leisure and shopping. With an array of dining, shopping, and entertainment options just a stone’s throw away, residents can enjoy a well-rounded lifestyle without having to venture far from home. These nearby amenities add to the allure of Lyndenwoods, making it an ideal choice for those seeking convenience and excitement in one vibrant location.
In a press release on May 6, Colliers stated that this rare asset presents a unique opportunity for industrial users, developers, funds, REITs, and family offices to acquire a strategic landholding while expanding their presence in one of Singapore’s crucial industrial zones.
The EOI for the site will close on June 10 at 3pm. Interested parties can check out the latest listings for Industrial Real Estate properties on Ask Buddy, where they will find past industrial sale transactions, as well as a comparison of price trends between commercial and industrial properties. They can also view past industrial rental transactions and the price trend for industrial property sales.