SINGAPORE (EDGEPROP) - A 4½-storey corner terraced factory unit at Shun Li Industrial Park, located at 81 Kaki Bukit Avenue 1, will be put up for auction at $3 million ($338 psf) on March 24 by Edmund Tie, which is handling the owner’s auction.
Spanning a built-up area of 8,880 sq ft, the unit was first put up for auction on Feb 24. The property is owned by a company which currently uses the premises as its headquarters and workshop, says Joy Tan, head of auction and sales at Edmund Tie.
Mrs Sign, a business offering the printing and installation of signages and large-format banners, currently operates out of the factory space. The firm is looking to sell as it is “right-sizing its property portfolio”, adds Tan.
“Within Shun Li Industrial Park, we believe that this [unit]has one of the best facing as it offers excellent frontage towards Kaki Bukit Avenue 1, allowing for good visibility and branding from passers-by,” she says.
As it is the corner unit, there is ample natural light. It also comes with five private carpark lots, which enable container trucks to load and unload goods, says Tan. It also faces the public carpark lots, which offer easy access to customers.
The new owner of the property can rent out the different levels. Access to the upper floors is by a private lift and internal staircase, and all levels come with a toilet for greater convenience, she adds.
Tan estimates that the average rental at Shun Li Industrial Park is between $12,000 and $13,000 a month, based on the median rental of $1.46 psf per month. “As Shun Li Industrial Park offers many different kinds of factory types and facing, we believe this unit can command a good rental yield,” she says.
The roof terrace is currently being used as a spray-painting station. This means that the new owner could utilise the space as well, she says.
The property is located within a neighbourhood of factory units and HDB estates. It is a six-minute walk from Kaki Bukit MRT Station on the Downtown Line. There is also side-gate access to a bus stop, offering direct transport to Bedok MRT Station on the East-West Line, and Tampines MRT Interchange Station on the East-West and Downtown Lines.
As for amenities, there is a food court within the development, but more eateries can be found at the HDB estate located opposite the property.
So far, the property has been receiving interest largely from end-users who are looking to use it for their own operations, says Tan.
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