An exclusive marketing agent from Colliers International has announced the sale of a three-storey terrace factory located in Midview City. The property has a guide price of $6.2 million or $688 psf.
Situated in the bustling Sin Ming Industrial Estate, the factory comes equipped with a basement and roof terrace. Spanning a total strata area of 9,009 sq ft, the building is zoned as a “Business 1” site under the URA Masterplan 2019.
According to Colliers International, the 60-year leasehold property is currently fully leased and has been approved for use as a childcare centre. It is currently tenanted by Star Learner preschool and childcare centre.
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Midview City, a light industrial building with a 60-year lease, was completed in 2012. The location offers convenient access to Bright Hill MRT Station on the Thomson-East Coast Line. It is also easily reachable from the Bishan and Upper Thomson residential areas through two entrances via Sin Ming Lane and Bright Hill Drive.
Raphael Lee, director of industrial services at Colliers, has stated that the property presents a rare opportunity for investors as it will be sold with an 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. The closing date for the Expression of Interest (EOI) exercise is April 29 at 3pm.
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