The three terrace factories for sale (in blue) at 28, 34B and 38A Hillview Terrace (Photo: Colliers)
A trio of 999-year leasehold terraced factories at 28, 34B and 38A Hillview Terrace are being offered for sale via private treaty. The properties, which are available for sale individually or collectively, have a combined asking price of $24.4 million.
The properties are being sold by a private entity, with Colliers as the appointed marketing agent. Two of the factories are vacant, while one is tenanted, Colliers adds.
Situated within the Hillview industrial estate, the factories occupy individual land plots at 28, 34B and 38A Hillview Terrace, mesuring about 5,670 sq ft, 5,820 sq ft and 4,180 sq ft, respectively. The sites have 999-year leasehold tenures from Jan 20, 1885. Based on the combined land area of around 15,670 sq ft, the asking price translates to about $1,560 psf.
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While the sites are zoned for residential use under the URA Master Plan, they have been approved for general industrial use. They have a gross plot ratio of 1.62.
Colliers notes that the sites’ residential zoning offers buyers more options for long-term redevelopment. It adds that a bonus plot ratio of 0.3 could potentially be obtained for the three plots, subject to URA planning and parcellation requirements.
The factories are near the Bukit Gombak and Bukit Batok MRT stations on the North-South Line.
Tan Boon Leong, executive director and industrial sales lead at Colliers Singapore, says the Hillview Terrace factories provide "multiple angles for value creation" for "buyers seeking both immediate use and longer-term repositioning potential”.
Caveats lodged show that the most recent transaction on Hillview Terrace was the sale of a terraced factory with a land area of 4,150 sq ft for $5.8 million ($1,398 psf on the land area) on April 6. Before that, another plot with a land area of 4,834 sq ft fetched $6 million ($1,241 psf) on Nov 25, 2025.
In 2022, owners of 23 factory units located at 26 to 38D Hillview Terrace jointly put their properties up for sale through a tender process, but did not find a buyer. The combined site, spanning 119,813 sq ft, had a reserve price of $255.4 million.