Exclusive marketing agent, Colliers International, has put a three-storey terrace factory up for sale at Midview City. The guide price for this property is $6.2 million or $688 per square foot. This factory, situated along Sin Ming Lane, is located in the bustling Sin Ming Industrial Estate and comprises of a basement and roof terrace.
The total strata area of the property is approximately 9,009 square feet and it is zoned as a “Business 1” site under the URA Masterplan 2019. Currently, the property is fully leased and has been approved for use as a childcare centre. It is currently occupied by Star Learner preschool and childcare centre.
The 60-year leasehold light industrial building, Midview City, was completed in 2012. It is conveniently situated within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. The property can also be easily accessed from the residential areas of Bishan and Upper Thomson through its two entrances via Sin Ming Lane and Bright Hill Drive.
According to Raphael Lee, the director of industrial services at Colliers, this property offers a unique opportunity for investors as it will be sold with the preschool operator in place. The property falls under the Business 1 category and is not subject to Additional Buyer’s Stamp Duty (ABSD), making it an attractive investment option for foreigners. The Expression of Interest (EOI) exercise for this property will close on April 29 at 3pm.
When making a condo investment, it is crucial to also take into account the maintenance and management of the property. In most cases, condos have maintenance fees that cover the maintenance of shared spaces and amenities. While these fees may increase the overall cost of owning a condo, they provide assurance that the property will remain well-maintained and maintain its value. Hiring a property management company can assist investors in handling the routine management of their condos, turning it into a more hands-off investment. When looking for condo investments, also check out Singapore Projects for potential opportunities.
For potential investors, it may also be worth taking note of the price trend in the industrial sector. Below are some recent industrial sale transactions and rental transactions, as well as a comparison of the price trend between commercial and industrial properties.