Exclusive marketing agent Colliers International has announced the sale of a three-storey terrace factory at Midview City at a guide price of $6.2 million or $688 psf.
Located at Sin Ming Lane in the heart of Sin Ming Industrial Estate, the 60-year leasehold property comes equipped with a basement and roof terrace.
Spanning across a total strata area of 9,009 sq ft, the property is zoned as a “Business 1” site under the URA Masterplan 2019.
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According to Colliers International, the property is fully-leased and has been approved for use as a childcare centre. The current tenant is Star Learner preschool and childcare centre.
The property will be sold with the existing preschool operator in place, making it a rare opportunity for investors, says Raphael Lee, director of industrial services at Colliers.
Completed in 2012, Midview City is a 60-year leasehold light industrial building. One of the main selling points of the property is its location, with Bright Hill MRT Station on the Thomson-East Coast Line within walking distance. The property is also highly accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
The EOI exercise for the property closes on April 29 at 3pm. Being a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners.