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Freehold industrial unit in Bishan for sale at $15.4 mil

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

January 2, 2024 5:53 PM SGT

The freehold strata industrial unit occupies the entire highest floor in Amtech Building and takes up a strata area of about 13,423 sq ft (Photo: Savills Singapore).

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SINGAPORE (EDGEPROP) - A freehold strata industrial unit occupying the entire highest floor of industrial property Amtech Building in Bishan has been put up for sale at a guide price of $15.4 million. With a strata area of about 13,423 sq ft, this translates to $1,150 psf. No additional buyer’s stamp duty is payable for the unit.

The unit has direct passenger and cargo lift access and is entitled to two carpark lots. It features a high ceiling with a regular floor plate and a column-free layout, with many windows.

Amtech Building is a freehold seven-storey flatted factory with a two-storey ancillary building. Dayna Ang at the investment sales and capital markets department of Savills Singapore, which is the property’s exclusive marketing agent, notes that the building is the only freehold strata-titled industrial development in the Sin Ming industrial cluster.

“This is in contrast to Midview City (located within the Sin Ming industrial cluster) which has a remaining tenure of 44 years. Ownership within Amtech Building is tightly held, and the opportunity to purchase an entire floor within the development hardly comes by,” Ang observes.

She adds that investors can expect strong capital upside and rental appreciation in the middle to long term due to the ongoing developments in the property’s surrounding vicinity.

This includes the ongoing construction of the North-South Corridor and the Build-To-Order (BTO) development in Sin Ming that was launched in December last year. The BTO project is slated to be completed in 2027 with more than 900 new flats.

Amtech Building has been zoned for Business 1 use under URA’s Master Plan 2019. The development features dedicated drop-off points, and sheltered and surface carpark lots.

The site of Amtech Building located within the Sin Ming industrial cluster in Bishan (Photo: EdgeProp's LandLens).

Sitting at the junction of Sin Ming Road and Sin Ming Drive, Amtech Building has a dual road frontage of about 210m. Surrounding amenities include coffeeshops located at the ground floor of neighbouring HDB flats and cafes in the shophouses along Upper Thomson Road.

Ang expects strong interest from both investors and industrialists due to the building’s freehold tenure and limited industrial strata supply in the Thomson enclave.

The expression of interest exercise for the property closes on Feb 8 at 3pm.

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