A three-storey terrace factory at Midview City has been put up for sale at a guide price of $6.2 million or $688 psf, according to exclusive marketing agent Colliers International.
Comprising a basement and roof terrace, the property is located along Sin Ming Lane in the heart of Sin Ming Industrial Estate. The factory has a total strata area of around 9,009 sq ft and is zoned as a “Business 1” site under the URA Masterplan 2019.
According to Colliers International, the 60-year leasehold property is fully-leased, and has been approved for use as a childcare centre. The property is currently leased to Star Learner preschool and childcare centre.
The property will be sold with the existing preschool operator in place (Picture: Colliers International)
Midview City is a 60-year leasehold light industrial building that was completed in 2012. The property is within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line.
The property is also accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
Source: EdgeProp Landlens
According to Raphael Lee, director of industrial services at Colliers, the property presents “a rare opportunity” for investors given that it will be sold with the existing preschool operator in place.
Given that it’s a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners. The EOI exercise will close on April 29 at 3pm.
