Three Storey Strata Terraced Factory Midview City 62 Mil

An exclusive marketing agent, Colliers International, has listed a three-storey terrace factory located at Midview City for sale at $6.2 million or $688 per square foot (psf). The property has a strata area of 9,009 square feet and is situated in the heart of the Sin Ming Industrial Estate on Sin Ming Lane.

The property holds a 60-year lease and is zoned as a “Business 1” site under the URA Masterplan 2019. It is fully tenanted and currently used as a childcare center, approved by the URA. The building comprises a basement and a roof terrace, and the neighborhood is easily accessible from Bishan and Upper Thomson residential areas. The Thomson-East Coast Line’s Bright Hill MRT Station is located within walking distance.

As per Raphael Lee, the director of industrial services at Colliers, the property is a rare investment opportunity as it comes with a preschool operator in place. The potential buyers will not be subject to Additional Buyer’s Stamp Duty (ABSD) as it is not a residential property, and foreign investors are also eligible to purchase.

The expression of interest (EOI) exercise for the property will close on April 29 at 3 pm. For those interested, the asking price of $6.4 million for a similar size industrial property in Kaki Bukit. The latest EdgeProp Landlens data shows the price trend for industrial properties and comparable rentals and sales transactions in the area.