SINGAPORE, Oct. 6, 2022 /PRNewswire/ — Brilliance Capital is pleased to launch for sale an industrial building at 18 Tuas Avenue 10 via an Expression of Interest. The part single / part 6-storey building sits on a land area of approximately 62,009 square feet, with a gross floor area of approximately 46,384 square feet. Under the current Master Plan, the site is zoned Business 2 (Industrial) with a plot ratio of 1.4.
The ground floor comprises of an ancillary office, warehouse space and a sizable full-fledged vehicle fleet maintenance, servicing and workshop area which comes with a high ceiling of more than 14 metres, and floor loading capacity of up to 15 kilonewton per square meter. The facility is also served by 2 vehicle platform lifts and is fitted with an oil storage room. There are a total of 8 car parking lots and 36 lorry parking lots on site. This offers businesses a large distribution and servicing space required for their operational needs.
Served by a service cum passenger lift, the rest of the floors from 2nd to 6th storey each enjoy a ceiling height of 4 meters and are fitted with air-conditioned ancillary offices and meeting rooms, R&D area and production area. There is a balance lease tenure of 17.5 more years to go with a lease tenure till year 2040 for the site.
Located within the Tuas Industrial Estate, the building is well-served by both Ayer Rajah Expressway and Pan-Island Expressway, and is in proximity to Jurong Port and Tuas Second Link. The locale offers the accessibility and efficiency in port logistics and storage management. In addition, Raffles Marina, The Raffles Country Club, AMARIS D’ Arena Country Club, Tuas Amenity Centre, Jurong Point which are located within the vicinity provide the extra convenience for food, amenities and facilities. The building is also accessible via the nearest Tuas West Road MRT Station (EW32) and bus stop along Tuas Avenue 7.
Ms Sammi Lim, Founder and Executive Director, Brilliance Capital Pte Ltd, said: “Equipped comprehensively as a full-fledged vehicle fleet maintenance and workshop facility, the seller had previously been occupying the premises for years before a business expansion steered the company to expand to a bigger premises as they have since outgrown the space. The building will be sold on a vacant possession basis, and this allows end-users the flexibility to commence operations immediately. With the increased demand in the logistics sector, we have also observed a surge in demand for such vehicle maintenance facility with ensuite office operations to be all under one roof, but there is rarely availability of such type of property being offered for sale in the market. The supply in the industrial sector remains tight. This site will stand out as it is fully equipped and operational-ready. The buyer can save on capex and time costs significantly compared to other options which will require works to be carried out to enhance the capacity of the building.
We expect the property to attract keen interest and attract a wide pool of buyers from end-user to investors. Singapore continues to gain further popularity as an Asia base with large multinational companies and international retailers. The sustained increase in demand for industrial and logistics will continue to steer the sector positively moving forward, and this is a timely opportunity for buyers to enter the market, and for end-users to secure a base for long term operations. The guide price at S$10 million works out to approximately $215 per square foot.”
As an industrial zoned property, this purchase is open to both local and foreign buyers with no additional buyers’ stamp duty (ABSD).
Brilliance Capital is the sole marketing agent for this Expression of Interest Exercise.
The Expression of Interest closes on 22 November 2022, Tuesday at 3.00 p.m.
About Brilliance Capital Pte. Ltd.
Brilliance Capital is a boutique real estate consultancy that provides advisory and agency services covering commercial and industrial investments, residential sales, and leasing services of all asset classes. Brilliance Capital is the brainchild of Sammi Lim – an extension of herself and her dedication in helping clients buy, sell, lease their properties, especially for corporates, institutional funds, ultra-high net worth individuals and private family funds that aim to diversify into real-estate investments.