SINGAPORE (EDGEPROP) - A five-storey detached factory building at 8 Tuas South Street 6, located off Tuas South Boulevard and Tuas South Ave 3, will be put up for auction at $5.8 million ($177 psf) on March 24 by Edmund Tie, which is handling the bank auction.
Spanning a built-up area of 32,663 sq ft, the building will be put up for auction for the first time. Given the large floor area, the guide price of the factory, which is zoned for Business 2 (B2) use, is reasonable, says Joy Tan, head of auction and sales at Edmund Tie.
Industrial spaces zoned under B2 allow for heavy industry usage, while those under B1 zoning are typically intended for lighter industrial use.
Levels two to four of the building each comprise four separated factory units. Including the space on the first floor, the building has a total of 13 individual units. This makes it suitable for multiple users, or a large organisation with many departments. The new owner of the property can also rent out the space to individual tenants, says Tan.
The building was completed in 2017 and is currently in a bare condition. The property — with a plot ratio of 1.0 — sits on a rectangular plot with a frontage of about 44m and a depth of about 69m. Each floor is served by a cargo lift, a passenger lift, as well as two staircases.
Tan says that each individual unit is bright and column-free, has a ceiling height of 5.6m and comes with a self-contained toilet. Certain units also offer dual entrances, she adds.
The factory building is served by the Ayer Rajah Expressway (AYE) and Pan Island Expressway (PIE), and its immediate vicinity comprises industrial developments.
So far, Edmund Tie has already received some interest from the public on the property.
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