Businessman Gary Goh started Privilege Motors in 2011 as a dealer in pre-owned Continental cars, ranging from Audi, BMW and Mercedes Benz to Porsche and Rolls-Royce. In addition to selling cars, Goh also offers car financing, insurance coverage and even hire purchase services.
In 2020, he saw the opportunity to purchase his own building: a four-storey, single-use freehold factory at Tagore Lane. The property occupies a prominent corner lot with double frontage, so Goh felt it made an ideal location for Privilege Motors’ flagship showroom and headquarters.
At the time of purchase, the property was owned by a manufacturer of glass windows and building facades. In fact, the exterior of the building has a state-of-the-art glass façade that allows natural daylight in but insulates the building from the heat outside.
Goh spent between $1 million and $2 million converting the interiors of the first two levels into a car showroom. A car lift was installed so cars could be moved between the two floors of the showroom. The first level of the showroom can fit 35 cars, while the second level can accommodate 10 luxury cars.
The car showroom on the second level can fit 10 luxury cars (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Time to consolidate
In addition to its flagship showroom at Tagore Lane, Privilege Motors also has a showroom at Automobile Megamart (AML), an eight-storey building at Ubi Avenue 2 with car showrooms, car accessory shops, used car display lots, offices, a restaurant and food court.
After four years at Tagore Lane, Goh decided that it was time to consolidate his real estate holdings. “We have our own database of clients, so we really don’t need such a big showroom,” he says.
The shopping habits of car buyers have changed as well. “These days, people search for cars on social media, watch TikTok videos, and shortlist the models they want to view before visiting a car showroom,” he adds. ““It’s very different from the past, when people used to visit car marts in Ubi, Kallang, or along the Alexandra/Leng Kee Road area to shop for cars on weekends.”
Some buyers even opt to purchase cars through online platforms, which has led to more new players entering the market, observes Goh.
The first-level showroom can fit up to 35 cars (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Versatile industrial uses
Upon deciding to sell the building at 162 Tagore Lane, Goh appointed Alvin Choo, senior associate district director at PropNex, as the sole marketing agent.
The property sits on a freehold site of 7,343 sq ft and has a total floor area of 14,701 sq ft. It is a single-user factory building zoned for Business 1 use.
“It’s versatile, freehold, and in an up-and-coming location in the northeast region,” says Choo. When it was launched for sale, interest came from a wide range of sectors — from manufacturing to engineering and construction. “The building is designated for clean and light industrial activities,” he notes.
Potential users include energy-related companies, data centre operators, those seeking a showroom, online business operations, a warehouse, media and other tech-related industries.
“Many were looking to own a fully built-up and renovated building, either for their own use or partial lease for rental income,” says Choo. “It’s also important to factor in the freehold tenure, for such buildings are limited in supply. And some business owners still want to have their own building.”
Source: EdgeProp Inspector
Dormitory operations
Interest came from dormitory operators, too. “Many new construction projects are coming up in the north and northeast region,” he says.
“While demand for workers’ quarters among industries remains high, approval to operate a workers’ dormitory within an industrial building is hard to come by.”
The building at 162 Tagore Lane last obtained an extension on the temporary permission (TP) for the fourth floor to be used as a workers’ dormitory in November 2018. According to its last extension in November 2015, the fourth floor can accommodate up to 60 workers.
However, the TP has since lapsed as the current owner, Privilege Motors, does not need a workers’ dormitory, says Choo. “If the new owner requires a workers’ dormitory, they would need to apply for approval from URA again,” he adds.
According to Choo, while the fourth level could be approved for a workers’ dormitory, the lower floors would be ideal for an office or a place of business.
PropNex’s Choo: It’s versatile, freehold, and in an up-and-coming location in the northeast region (Source: Alvin Choo/PropNex)
Fully-built corporate building
According to Choo, the property is available for sale by private treaty for $23.8 million. Based on the floor area of 14,701 sq ft, that works out to $1,619 psf.
The building at 162 Tagore Lane stands out as a contemporary, four-storey building within the Sindo Industrial Estate, which still has predominantly ageing terraced factories.
The last transaction in the area was for a terraced factory building on a 4,513 sq ft site that changed hands for $6.75 million, based on a caveat lodged in April 2024. Under the Master Plan, the building can be rebuilt into a new property with a gross floor area of 10,737 sq ft.
