SINGAPORE (EDGEPROP) - A five-storey high-specification light industrial building at 4 Ubi View within the Paya Lebar-Ubi industrial area has been put up for sale via an expression of interest (EOI) exercise, sole marketing agent Brilliance Capital announced on Sept 26. The building has a land area of about 22,321 sq ft and a gross floor area of about 44,775 sq ft.

The private leasehold property (non-JTC) is zoned under "Business 1" with a plot ratio of 2.0. It has a 60-year lease from January 1999 and 34 years remaining on the lease. As it is not a residential property, foreigners and companies are eligible to purchase without paying for additional buyer's or seller's stamp duty.

The property is accessible via major expressways such as the PIE and CTE. It is also within walking distance of the Ubi MRT Station on the Downtown Line.

Read also: Far East buys Ubi industrial property at $22.5 mil

As the building is a private leasehold property, there is no land rent payable. This gives a significant advantage for buyers looking to secure a cost-efficient and long-term asset, says Sammi Lim, founder and executive director of Brilliance Capital.

Mark Tan, associate director of Brilliance Capital, adds that the building's high specifications and ceiling heights of up to 6.4m make it ideal for operations requiring robust infrastructure. "Additionally, buyers may have naming and signage rights, which increase their visibility in a prime industrial area."

The EOI closes on Nov 8 at 3pm.