Three Storey Strata Terraced Factory Midview City 62 Mil
A rare opportunity has arisen to purchase a three-storey terrace factory at the popular Midview City, with exclusive marketing agent Colliers International setting the guide price at $6.2 million or $688 per square foot. This property, located along Sin Ming Lane in the heart of the esteemed Sin Ming Industrial Estate, boasts a basement and roof terrace on top of three storeys, with a total strata area of approximately 9,009 square feet. This esteemed property is zoned as a “Business 1” site under the URA Masterplan 2019, and is being sold with a 60-year leasehold.
According to Colliers International, the property will be sold with the existing preschool operator in place, making it an attractive investment opportunity. The property, which is currently leased to the renowned Star Learner preschool and childcare center, has been approved for use as a childcare center. Midview City itself is a newly-built 60-year leasehold light industrial building, and is strategically situated within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. It is also easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.
Raphael Lee, Director of Industrial Services at Colliers, says that this rare opportunity will draw potential investors, as the property will be sold with the existing preschool operator in place. Given that it is a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners. The EOI exercise will close on April 29 at 3pm, so interested parties should act fast.
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