Two industrial properties at Tuas for sale

By Valerie Kor / EdgeProp Singapore | June 17, 2020 3:26 PM SGT
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SINGAPORE (EDGEPROP) - Two industrial properties at Tuas have been put up for sale via an expression of interest (EOI) exercise launching June 18.
EDGEPROP SINGAPORE - 31 Tuas South St 5 industrial building
31 Tuas South St 5 has an unutilised gross floor area quantum and can be further maximised (Photo: Colliers International)
The first property is at 31 Tuas South St 5, which has a price tag of $17 million. The total land area is 158,402 sq ft, which translates to $107 psf. A single two-storey mezzanine factory with ancillary office space and three single-storey factory blocks, it is a general industrial factory.
The land is zoned under Business 2 with a maximum allowable plot ratio of 1.4 under the URA Master Plan 2019. The property has an existing gross floor area (GFA) of 95,956 sq ft, translating to a plot ratio of 0.6. The land has a tenure of 30 years, starting from 2006. The remaining tenure is approximately 16 years.
Steven Tan, senior director of capital markets and investment services at Colliers International, says that the site has an unutilised GFA quantum and can be maximised up to a total GFA of 221,762 sq ft under the current Master Plan, subject to approval. The land premium has been fully paid upfront.
8 Tuas South St 6 is a newly completed detached factory building that is suitable for a warehouse (Photo: Colliers International)
The other property is at 8 Tuas South St 6 and is on sale for an indicative price of $6 million, which translates to approximately $183 psf based on its current total GFA of 32,663 sq ft.
The property is a five-storey detached factory building completed in 2017. It comprises a warehouse with ancillary office space, 11 parking lots and a cargo lift. Tan says that the high ceiling height of the property makes it suitable as a warehouse space. Additionally, the building is newly completed, so buyers can move in almost immediately.
The land is zoned under Business 2 with a maximum allowable plot ratio of 1.0. With a leasehold tenure of 22 years commencing Oct 1, 2013, the property has a remaining land tenure of about 13 years. Situated on JTC land, the annual land rent has been waived.
Both properties are in close proximity to the future Tuas Mega Port, which will be progressively launched from 2021. The properties will also potentially be served by the Tuas South MRT Station on the East-West Line, if an extension beyond Tuas Link MRT Station is approved. They are also within a 15-minute drive to the Tuas checkpoint.
The EOI for both industrial properties will close at 3pm on July 16.
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