An exclusive marketing agent, Colliers International, has announced the sale of a three-storey terrace factory at Midview City, listed at a guide price of $6.2 million or $688 per square foot. This property, situated at Sin Ming Lane in the bustling Sin Ming Industrial Estate, boasts a basement and roof terrace along with a total strata area of 9,009 square feet. Under the URA Masterplan 2019, it holds a “Business 1” zoning, making it suitable for various industries.
The factory has been recently approved for use as a childcare centre and is fully-leased, making it an attractive investment opportunity for buyers. Currently leased to Star Learner, a reputable preschool and childcare centre, this 60-year leasehold property offers stability and potential for rental income.
Constructed in 2012, Midview City is a light industrial building with a 60-year leasehold. It benefits from a convenient location, within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. The two entrances via Sin Ming Lane and Bright Hill Drive also provide accessibility from the Bishan and Upper Thomson residential areas.
According to Raphael Lee, director of industrial services at Colliers, this property presents a rare opportunity to investors as it will be sold with the existing preschool operator in place. Being a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners.
Interested parties have until April 29 at 3pm to submit their Expression of Interest (EOI). This strategic investment opportunity at Midview City should not be missed.
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