The five-storey industrial building at 152 Ubi Avenue 4, where the owner spent $5 million in renovations which were completed last year (Photo: Brilliance Capital)
SINGAPORE (EDGEPROP) - A five-storey industrial building at 152 Ubi Avenue 4 has been put up for sale at $50 million by an expression of interest (EOI) exercise. The JTC light industrial factory sits on a land area of 49,187 sq ft with a 30+30 year lease with effect from Feb 1, 1997. Hence, it has four years remaining on the lease, with the option to renew for another 30 years.
The property has a gross floor area (GFA) of 96,549 sq ft and up to 4.5m ceiling height. The building comes with heavy-duty flooring suitable for various industrial uses. The basement parking is large enough for 56 cars. Under the 2019 Master Plan, the site is zoned for “Business 1” use with a 2.0 plot ratio. It is approved for the e-commerce and information and communication technologies (ICT) industries.
The owner spent $5 million renovating the property. The renovations were completed last year. Works included upgrading the lobby, reception area, lift landings, swimming pool, putting green, office areas and landscaping in the compound. Solar panels have been installed on the façade to make the building more sustainable and energy-efficient.
The building has high specifications, central air-conditioning, modern fire-fighting equipment and security systems. Two passenger lifts and two cargo lifts serve the building.
As it is a B1 industrial building, up to 40% of the space can be leased as office space, says Sammi Lim, founder and executive director of Brilliance Capital, who is marketing the property exclusively.
Smart Innovations Global, a telecom and ICT distributor and service provider, owns the property, according to a property title search. The company was formerly known as Armorcoat Technologies.
The location is accessible via Kallang Paya Lebar Expressway, Pan Island Expressway, Central Expressway and East Coast Park Expressway. It is a 15-minute drive to the CBD and a nine-minute walk to Ubi MRT Station on the Downtown Line. MacPherson and Tai Seng MRT Stations are also within the vicinity.
The EOI exercise for the building closes on Aug 23.
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