SINGAPORE (EDGEPROP) - A freehold strata industrial unit at Delta House, located along Alexandra Road, is on the market for sale by private treaty with JLL as the exclusive marketing agent. The indicative price for the unit with a strata area of 23,562 sq ft is $30 million or $1,237 psf, says Victor Zeng, JLL Singapore director of capital markets.
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The unit occupies close to 65% of the entire floor, and represents about 10% of the total strata area and total share value at Delta House. The seven-storey flatted factory has a preschool on the first storey, with upper stories housing production spaces, warehouses and ancillary offices.
The sale is subject to existing tenancies with staggered lease expiry dates. According to Zeng, the vendor plans to lease back most of the space that it’s occupying. The unit has windows on three sides, direct passenger and cargo lift access as well as eight reserved parking spaces.
Located in the city fringe, Delta House is within 700m walking distance to Tiong Bahru MRT station, near Tiong Bahru Plaza, Valley Point and Great World City. It’s just a seven-minutes’ drive to the CBD.
JLL’s Zeng expects to see interest from both investors and industrialists given the scarcity of freehold strata units in the city fringe. With the leaseback by the vendor, investors enjoy immediate rental income stream he adds. Buyers may also explore strata subdividing the lot, subject to authorities’ approval. No Additional Buyer’s Stamp Duty is applicable on the purchase of the purchase, and foreigners are eligible.
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