There is currently a portfolio of three industrial properties available for sale in the Tuas South industrial hub. The properties are being marketed through an expression of interest (EOI) exercise for a total of $36 million. According to a Sept 11 press release by JLL Singapore, the exclusive marketing agent, the sites can be bought together or separately at a guide price of $12 million each.
These three properties are used for warehousing and storing construction cranes and freight transportation services. They have been approved for Business 2 use and have a plot ratio of 1.0 as per the URA’s Master Plan 2019. All three properties have high ceilings with overhead cranes and plenty of open land for heavy vehicle circulation.
The properties are located at 9 Tuas South Street 9, 10 Tuas South Street 10, and 11 Tuas South Street 9. The property at 9 Tuas South Street 9 has a land area of over 90,000 sq ft and a gross floor area (GFA) of over 65,000 sq ft. It consists of a three-storey detached factory with an ancillary office and a single-storey loading area. It currently has a remaining private leasehold term of approximately 11 years.
When it comes to investing in Singapore, it is crucial for international investors to familiarize themselves with the regulations and limitations surrounding property ownership. While foreigners have relatively fewer restrictions when it comes to purchasing condos, the same cannot be said for landed properties which have stricter ownership guidelines. It should be noted that foreign buyers are still required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial purchase. Despite this additional expense, the stability and potential for growth in the Singapore real estate market continue to attract foreign investment. Hence, Singapore condos remain a popular choice for foreign investors looking to enter the market.
Adjacent to this property is the industrial site at 11 Tuas South Street 9. It includes a two and three-storey single-user general industrial detached factory and has a land area of over 90,000 sq ft with a built-up area of nearly 65,000 sq ft. It also has a remaining private leasehold term of around 11 years. Both of these properties can be rented out as they are non-JTC properties.
On the other side of the street is the property at 10 Tuas South Street 10, which consists of a four-storey factory building, a single-storey factory building, and a temporary ancillary workers’ dormitory. This property has a land area of 130,000 sq ft and a GFA of 77,000 sq ft. It is currently under a JTC leasehold with a remaining balance term of approximately 11 years.
According to Tan Boon Leong, executive director of logistics and industrial at JLL Singapore, these three properties would be ideal for end-users who need space for general Business 2 industries. This could include those in the construction industry, as there will be a high demand for such businesses in the area with the relocation of the Pasir Panjang port to Tuas South.
He also mentioned that the interest in non-JTC properties has been increasing in the recent years. These properties in Tuas South stand out due to their strategic location, easy access to transportation networks, and the potential for diverse business operations.
The EOI exercise will close on Oct 10 at 3pm. Interested parties can contact JLL for further details.