The sought after three-storey terrace factory located at Midview City, in the heart of Sin Ming Industrial Estate, is now available for sale. The property, which has a guide price of $6.2 million or $688 per square foot, will be marketed exclusively by Colliers International.
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This impressive property boasts a basement, roof terrace and a total strata area of approximately 9,009 square feet. Under the URA Masterplan 2019, it is classified as a “Business 1” site. Colliers has revealed that this 60-year leasehold property is fully-leased and also benefits from a childcare centre approval. The current tenant is Star Learner preschool and childcare centre.
Midview City was completed in 2012, and it is a 60-year leasehold light industrial building. Bright Hill MRT Station on the Thomson-East Coast Line is within walking distance, and access to the Bishan and Upper Thomson residential areas is available via two entrances – Sin Ming Lane and Bright Hill Drive.
According to Raphael Lee, director of industrial services at Colliers, this is a rare investment opportunity as the existing preschool operator will remain in place. The property is not subject to Additional Buyer’s Stamp Duty (ABSD) due to its Business 1 classification, and it can be purchased by foreigners. Interested parties have until April 29 at 3pm to submit their Expression of Interest (EOI).
This property is just one of the many sought-after industrial properties in the market. For more information on industrial property sales, please refer to the price trends and past transactions listed below. Alternatively, you can also compare the price trend of commercial versus industrial properties and check out past rental transactions to gain a better understanding of the market.