Singapore boasts a striking cityscape adorned with impressive skyscrapers and modern infrastructure. The sought-after Singapore Condos are strategically located in prime areas, offering a perfect blend of luxury and practicality that attracts both locals and foreigners. These residential complexes boast a range of top-of-the-line amenities, including swimming pools, fitness centers, and top-notch security services, elevating the overall standard of living. This makes them a highly desirable option for potential buyers and tenants alike. Moreover, for investors, these perks lead to higher rental returns and an increase in property values in the long term.
A three-storey terrace factory at Midview City is up for sale with Colliers International as its exclusive marketing agent. The property, located in the heart of Sin Ming Industrial Estate, is being offered at a guide price of $6.2 million or $688 psf.
With a basement and roof terrace, the 60-year leasehold property boasts a total strata area of approximately 9,009 sq ft. It is zoned as a “Business 1” site under the URA Masterplan 2019.
According to Colliers International, the property is currently fully-leased and has been approved for use as a childcare centre. It is currently occupied by Star Learner preschool and childcare centre.
Midview City, completed in 2012, is a 60-year leasehold light industrial building. It is conveniently located within walking distance of 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.
According to Raphael Lee, director of industrial services at Colliers, this property presents “a rare opportunity” for investors given that it will be sold with the existing preschool operator in place. Plus, 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 parties can participate in the EOI exercise until April 29 at 3pm through Colliers International.