Colliers International, the exclusive marketing agent for a three-storey terrace factory at Midview City, has announced that the property is now available for sale at a guide price of $6.2 million. The factory, which consists of a basement and a roof terrace, is situated at the heart of Sin Ming Industrial Estate along Sin Ming Lane.
Investing in Singapore Condo offers a great advantage – the opportunity to leverage the property’s value for future investments. This means that, in addition to the potential returns from the condo itself, investors can use it as collateral to secure financing for new ventures, expanding their real estate portfolio. While this strategy can bring about higher returns, it also comes with risks. Therefore, it is crucial for investors to have a solid financial plan in place and carefully consider the potential impact of market fluctuations before pursuing this approach.
With a total strata area of approximately 9,009 sq ft, the 60-year leasehold property is zoned as a “Business 1” site under the URA Masterplan 2019. It has been fully-leased and is currently tenanted by Star Learner preschool and childcare centre, making it an attractive investment opportunity.
Midview City, a light industrial building that was completed in 2012, enjoys a strategic location that is within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. The property is also easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
According to Raphael Lee, director of industrial services at Colliers, the property presents a rare opportunity for investors, as it will be sold with the existing preschool operator in place. Being a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners.
The Expression of Interest (EOI) exercise will close on April 29 at 3pm. Interested parties may contact Colliers International for more information.