18 Tuas Avenue 10 is a part-single/part-six-storey building (Credit: Brilliance Capital)
EDGEPROP (SINGAPORE) - An industrial building at 18 Tuas Avenue 10 was launched for sale via expression of interest (EOI) at $10 million on Oct 6. Brilliance Capital is the sole marketing agent for the property.
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The part-single/part-six-storey building has a built-up area of 46,384 sq ft and a land area of 62,009 sq ft. It is zoned for Business 2 (Industrial) use and has a plot ratio of 1.4. The property has a lease of 25 years and six months with effect from October 2014. There is a balance of about 17.5 years left on the lease, which expires in 2040.
Ancillary offices on the second to sixth floors (Credit: Brilliance Capital)
The facility is designed to fulfil the operational needs for large distribution and servicing space. The ground floor has a high ceiling of over 14m and a floor loading capacity of 15kN/sq m. It is being used as an ancillary office, warehousing space, vehicle fleet maintenance, servicing and workshop area. There are two vehicle platform lifts and an oil storage room. It also has eight carparking lots and 36 lorry lots.
The upper floors are accessible via a service-cum-passenger lift and consist of ancillary offices, meeting rooms, as well as R&D and production area. It is fully air-conditioned and has a ceiling height of 4m.
The seller, an end-user, is selling the building as they are seeking larger premises to house their expanding business, says Sammi Lim, the founder of Brilliance Capital.
Given the sustained demand for industrial and logistics, Lim expects the property to draw keen interest from a wide pool of buyers ranging from end-users who want to secure a base for long-term operations to investors. “There is a surge in demand for such vehicle maintenance facility housed together with office operations,” she observes.
Ground-floor workshop space (Credit: Brilliance Capital)
This building is sold with vacant possession. It is fully equipped and operational, which helps the buyer save on capital expenditure and time, says Lim.
Located in the Tuas industrial estate off Ayer Rajah Expressway and Pan-Island Expressway, the building is close to port logistics and storage management facilities at Jurong Port and Tuas Second Link.
The EOI exercise will close at 3pm on Nov 22.
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