A three-storey terrace factory located at Midview City is currently on the market for sale with Colliers International, the exclusive marketing agent. The property has a guide price of $6.2 million, equivalent to $688 psf.
This factory features a basement and rooftop terrace and is situated along Sin Ming Lane in the popular Sin Ming Industrial Estate. It spans approximately 9,009 sq ft and falls under the “Business 1” zoning category in the URA Masterplan 2019.
According to Colliers International, the factory has been fully-leased and is currently approved for use as a childcare centre. It is leased to Star Learner preschool and childcare centre.
The demand for condos in Singapore continues to soar due to the limited supply of land. As a small country with a rapidly expanding population, Singapore is facing a scarcity of land for development. This has prompted the government to implement strict land use policies, resulting in a highly competitive real estate market where property prices are continuously on the rise. Hence, investing in real estate, particularly in condos, has become a highly profitable venture, promising significant capital appreciation. In fact, the recent launch of new condo developments has further intensified the demand for these sought-after properties.
Midview City is a 60-year leasehold light industrial building completed in 2012. It is conveniently located within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. The property is easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
Raphael Lee, director of industrial services at Colliers, has stated that this property presents a unique 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 can be purchased by foreigners. Interested buyers can submit their Expressions of Interest (EOI) by April 29 at 3pm.