Three Tuas South Industrial Properties Sale 36 Mil
A trio of industrial properties in the bustling Tuas South industrial hub is now up for sale through an expression of interest (EOI) auction for a total of $36 million. Property firm JLL Singapore, the exclusive marketing agent, announced the offering in a press release on September 11, revealing that potential buyers can purchase the sites individually or collectively with a starting price of $12 million per property.
The three properties are currently utilized as warehouse and storage facilities for construction cranes and freight transportation services. As per the Urban Redevelopment Authority’s (URA) Master Plan for 2019, the sites are zoned for Business 2 use with a plot ratio of 1.0. All three properties boast high ceilings with overhead cranes and ample open land for heavy vehicle movement.
Located at 9 Tuas South Street 9, 10 Tuas South Street 10 and 11 Tuas South Street 9, the first property occupies over 90,000 square feet of land and has a gross floor area (GFA) of more than 65,000 square feet. It consists of a three-storey detached factory with an attached office and a single-storey loading area. The property has a remaining leasehold term of approximately 11 years.
The adjacent property at 11 Tuas South Street 9 also has a part two and three-storey single-user general industrial detached factory. It sits on a land area of more than 90,000 square feet and a built-up area of around 65,000 square feet, with a remaining leasehold term of approximately 11 years. Both properties, being non-JTC properties, are available for rental.
On the other side of the road is the third property at 10 Tuas South Street 10, comprising of a four-storey factory building, a single-storey factory building, and a temporary ancillary workers’ dormitory with an approval until December 14, 2026. This property sits on a 130,000 square feet plot and has a GFA of 77,000 square feet. It is currently under a JTC leasehold with a remaining lease term of around 11 years.
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With the impending relocation of the Pasir Panjang port to Tuas South, Tan Boon Leong, Executive Director of Logistics and Industrial at JLL Singapore, believes that these three properties would be highly sought-after by end-users seeking space for various Business 2 industries. This includes the construction industry, which is expected to experience an increase in demand in the area.
Tan further elaborated, “The demand for non-JTC properties has been steadily rising in recent years. These properties in Tuas South have a prime location, with excellent access to transportation networks and the potential for diverse business operations.”
The EOI exercise will close on October 10 at 3pm. To assist potential buyers, JLL Singapore has provided a variety of useful information on the price trends and transaction histories for industrial properties in the region.