SINGAPORE (EDGEPROP) - A two-storey production and distribution facility at 60 Tuas Avenue 11 is up for sale with a guide price of $50 million. CBRE is the marketing agent for selling this property which will be sold via private treaty.

The building sits on a 256,000 sq ft site on a 30+30 year lease that started in 1995. The plot is zoned for ‘Business 2’ with a plot ratio of 1.4. The existing two-storey industrial building has a total gross floor area of 281,000 sq ft.

CBRE says the building could enjoy a potential built-up area of approximately 358,400 sq ft, leaving approximately 77,000 sq ft of unutilised plot ratio based on the existing property. The industrial building comprises manufacturing and warehouse space on the ground and second floors, with ancillary office space on the second floor. The manufacturing facility is partially air-conditioned with humidity control. The agency adds that this is ideal for pharmaceutical or semiconductor industries’ manufacturing or storage.

The building is also served by five dock levellers equipped for 40-footer container loading, 4000-ampere 3-phase power supply and a 3-tonne cargo lift. Transport connectivity is through Tuas Viaduct and the Ayer Rajah Expressway (AYE), with proximity to the Tuas Megaport and Tuas Checkpoint.

Strong rental expansion and leasing renewal momentum in 1Q2023 will underpin demand for quality warehouse spaces amid the tight supply, says Graeme Bolin, head of occupier and leasing, industrial and logistics services, CBRE.

He adds that 60 Tuas Avenue 11 presents an opportunity for investors and owner-occupiers alike to acquire a property with good building specifications and is strategically located within the Tuas manufacturing zones.

Check out the latest listings near Tuas Avenue 11