A rare opportunity has arisen in Midview City, with the exclusive marketing agent Colliers International announcing the sale of a three-storey terrace factory at a guide price of $6.2 million or $688 psf. Comprising of a basement and roof terrace, this property is situated in the heart of Sin Ming Industrial Estate along Sin Ming Lane.
This 60-year leasehold property boasts a total strata area of approximately 9,009 sq ft and is zoned as a “Business 1” site under the URA Masterplan 2019. Fully-leased and approved for use as a childcare centre, this property is currently leased to Star Learner preschool and childcare centre.
Completed in 2012, Midview City is a 60-year leasehold light industrial building that offers convenience with its close proximity to Bright Hill MRT Station on the Thomson-East Coast Line. It is also easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
The purchase of a condominium comes with a host of benefits, one of the most significant being the ability to use the property’s value as leverage for future investments. This means that condo owners can use their units as collateral to secure additional funding for new ventures, ultimately expanding their real estate portfolio. By incorporating this method, investors can potentially amplify their profits; however, it is essential to consider the potential risks associated with this approach. It is crucial to have a strong financial plan in place and to carefully consider the potential impact of market fluctuations. If you are considering investing in Singapore projects, this could be an excellent opportunity to further diversify your real estate portfolio. Check out Singapore Projects for more information.
According to Raphael Lee, director of industrial services at Colliers, this property presents “a rare opportunity” for investors as it will be sold with the existing preschool operator in place. As a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and is open for purchase by foreigners. Interested parties may participate in the Expression of Interest (EOI) exercise that will close on April 29 at 3pm.
For more information on industrial property sales, ask Buddy or refer to our price trend analysis for industrial properties. Past industrial sale and rental transactions as well as listings for industrial properties are also available for reference.