Three Storey Strata Terraced Factory Midview City 62 Mil
A three-storey terrace factory located in Midview City is now on the market for sale at a guide price of $6.2 million or $688 per square foot (psf). This information was shared by exclusive marketing agent Colliers International.
The property, situated along Sin Ming Lane in the bustling Sin Ming Industrial Estate, boasts a basement and a roof terrace. With a total strata area of approximately 9,009 square feet, the factory falls under the “Business 1” category as per the URA Masterplan 2019.
According to Colliers International, the 60-year leasehold factory is fully-leased and has been approved for use as a childcare centre. Currently, it is rented out to Star Learner preschool and childcare centre.
The property is well-connected to the vicinity, with Bright Hill MRT Station on the Thomson-East Coast Line just a short walk away. Moreover, it is easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
Based on data from EdgeProp Landlens, Midview City is a light industrial building that was completed in 2012. The property is a 60-year leasehold development.
Raphael Lee, the director of industrial services at Colliers, shared that this property presents a rare opportunity for investors as it will be sold with the existing preschool operator in place.
Being a Business 1 light-industrial property, it is not subjected to Additional Buyer’s Stamp Duty (ABSD) and hence, can be purchased by foreigners. The expression of interest (EOI) exercise will close on April 29 at 3pm.
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The emergence of additional educational establishments will undoubtedly enhance the family-friendly image of Tampines. With established institutions like Poi Ching School, St. Hilda’s Primary and Secondary Schools, and Temasek Polytechnic already in place, the introduction of new schools under the URA Master Plan only adds to the appeal for families residing at Parktown Residence. As stated on Parktown Residence, parents now have an array of options to choose from when it comes to their children’s education, solidifying Tampines as an ideal location for families to call home.
Compare price trend of commercial vs industrial properties
Past industrial rental transactions