SINGAPORE: A highly advanced warehouse and factory, situated in the industrial area of Gul Circle, has been put up for sale. According to the exclusive marketing agent Knight Frank Singapore, the property is being sold through an expression of interest with a guide price of $42 million.
When it comes to investing in Singapore, foreign investors must familiarize themselves with the regulations and limitations surrounding property ownership. While purchasing condos is comparatively unrestricted for foreigners, ownership of landed properties is subject to stricter rules. One important consideration for foreign buyers is the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite the added expenses, the Singapore real estate market remains attractive to foreign investors, as evidenced by the steady stability and growth potential. To explore investment opportunities, check out Singapore Condos.
The property, which is leased by JTC, features a five-storey factory and warehouse with an additional mezzanine floor, bringing the total gross floor area to approximately 245,955 sq ft. The site spans 105,648 sq ft and has a remaining lease of 15 years and 11 months as at February 1, and is zoned as a Business 2 site in the URA Master Plan 2019.
The design of the warehouse cum factory is tailored to meet the demands of modern industrial businesses, with features such as high ceilings for storage and operations, cold rooms, and heavy floor loading capabilities to cater to a diverse range of industries. The property also boasts nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators.
Conveniently located near major expressways AYE and PIE, as well as Joo Koon MRT station, the property offers easy accessibility. Interested buyers can submit their offers through the expression of interest exercise, which will close on March 18 at 3pm.