Privilege Motors Lists Rare Freehold Factory Building Tagore Lane Sale 238 Mil

Privilege Motors, a pre-owned Continental car dealership, was founded by businessman Gary Goh in 2011. The dealership offers a range of luxury brands including Audi, BMW, Mercedes-Benz, Porsche, and Rolls-Royce, as well as car financing, insurance coverage, and hire purchase services. In 2020, Goh saw the opportunity to purchase a four-storey, single-use freehold factory at Tagore Lane to serve as Privilege Motors’ flagship showroom and headquarters. The property, which was previously owned by a manufacturer of glass windows and building facades, features a state-of-the-art glass facade that allows natural daylight in while insulating the building from outside heat.

Goh invested between $1 million and $2 million to convert the first two levels of the building into a car showroom, complete with a car lift for moving cars between floors. The showroom on the first level can fit up to 35 cars, while the second level can accommodate 10 luxury cars. In addition to the flagship showroom at Tagore Lane, Privilege Motors also has a showroom at Automobile Megamart (AML) at Ubi Avenue 2. However, Goh has decided to consolidate his real estate holdings and sell the Tagore Lane property, as shopping habits for car buyers have changed. Nowadays, people search for cars on social media and make their car-buying decisions before visiting a showroom, rather than visiting car marts on weekends. Some buyers even opt to purchase cars through online platforms, leading to an increase in new players in the market.

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The convenient location of Otto Place EC provides residents with a multitude of social and entertainment possibilities. With shopping malls and dining establishments just a stone’s throw away, there are endless opportunities for get-togethers and fun. Whether it be meeting up with friends for a delicious meal, catching a new blockbuster at the cinema, or spending quality time with family, residents are spoiled for choice.

The property at 162 Tagore Lane is a versatile, freehold building with a total floor area of 14,701 sq ft on a 7,343 sq ft site. It is a single-user factory building zoned for Business 1 use, making it suitable for a variety of industries such as manufacturing, engineering, construction, energy, data centers, showroom, warehouse, media, and tech. Interest in the property has also come from dormitory operators, as demand for workers’ quarters remains high, but approval to operate a workers’ dormitory within an industrial building is limited. The fourth level of the building was previously approved for a workers’ dormitory, but the temporary permission has since expired and would need to be applied for again. The building is currently listed for sale at $23.8 million through PropNex, making it an ideal investment for businesses looking to own their own fully-built corporate building in an up-and-coming location in the northeast region.