Portfolio of six freehold industrial units at Apex @ Henderson for sale at $16.3 mil
By Cecilia Chow
/ EdgeProp Singapore |
The nine-storey Apex @ Henderson, is a B1 light industrial building with Mondrian-inspired architecture and was completed in 2015
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On the market is a portfolio of six adjoining duplex units on the top floor (ninth level) of Apex @ Henderson. The freehold industrial building is located at the junction of Jalan Bukit Merah and Henderson Road. The six units have a northeast orientation and have been amalgamated and fitted out for the use of a postproduction studio.
The space includes a reception area, open office space, partitioned offices, conference rooms, a pantry area, discussion areas, a senior management room with an ensuite bathroom, storage area, private terraces with balconies, male and female washrooms, and a dedicated server room.
The pantry and breakout area of the duplex units on the ninth floor of Apex @ Henderson (Photo: Brilliance Capital)
The mezzanine level has a general production space, meeting rooms, partitioned offices, and a break-out area. All units boast a 6.5m ceiling with full-height glass windows, which bring in natural light and offer views of the surroundings.
The units will be sold with vacant possession. "They have been extensively renovated and present an attractive turnkey solution for an incoming buyer who wants to lease the units out to a potential tenant," says Sammi Lim, founder and executive director of Brilliance Capital, the exclusive marketing agent for the units.
The senior management office of the postproduction studio (Photo: Brilliance Capital)
The asking price of the units with a total strata area of about 15,608 sq ft is $16.3 million, which translates to a price of $1,044 psf based on the strata area. They will be sold by private treaty. The pricing is attractive considering that in April, when the portfolio was last put up for sale, the price was $18.8 million ($1,205 psf), or 13.3% higher.
Based on caveats lodged, the latest transaction at Apex @ Henderson was for a 2,939 sq ft unit on the sixth floor that changed hands for $2.85 million ($970 psf) in October. The last time a unit changed hands on the ninth floor was in August when a 3,401 sq ft unit fetched $3.025 million ($889 psf). Before that, two neighbouring adjoining units with a combined strata area of 2,896 sq ft were sold for $2.76 million ($953 psf) in June.
The gym and outdoor exercise area of the facilities deck at Apex @ Henderson (Photo: Brilliance Capital)
Apex @ Henderson is considered a hub for tenants in home furnishing and decoration, telemedical and consultancy businesses. Developed by a joint venture between Yi Kai Group and Fission Group of Companies, the 115-unit, strata-titled industrial complex was launched for sale in August 2012 and entirely sold by April 2013.
Completed in 2015, Apex @ Henderson has Mondrian-inspired, modernist architecture designed by Kyoob Architects. The development has dedicated drop-off points, a sheltered car park with ample lots, electric vehicle (EV) charging stations, six passenger lifts and two service lifts. Even though it's an industrial building, it is equipped with lifestyle facilities such as a lap pool, gym, barbeque pits, and sauna room.
The swimming pool on the facilities deck (Photo: Brilliance Capital)
Brilliance Capital’s Lim points out that Apex @ Henderson is also within walking distance of the Redhill and Tiong Bahru MRT stations and well-connected via the Ayer Rajah Expressway and Central Expressway.
The six individual strata titles provide flexibility for the buyer to sell the units piecemeal or rent them to multiple tenants, says Brilliance Capital's Lim. "We anticipate keen interest from local and overseas industrialists, corporates, institutional funds, private funds, family offices, and ultra-high net worth individuals."
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