Two-storey distribution and production facility located at 60 Tuas Avenue 11 is to auction with a suggested value of $55 million. CBRE is the agent selling the property that will be offered through a private contract.
Grand Dunman progress will accommodate each individual since plenty of amenities are in the vicinity.
The building is located on a 256,000 square foot site in a 30-year + 30 year lease that was first signed in 1995. The site is zoned “Business 2” with the plot ratio being 1.4. The industrial building, which is currently two stories tall, has a gross space of 28,11,000 square feet.
CBRE claims that the building will have a built-up area that is approximately 358,400 square feet which leaves around 77,000 sq ft of plot ratio that is not being utilized that is based on the current property. The industrial structure is made up of warehouse and manufacturing spaces on the ground floor and on the second floor and offices on the upper floor. Manufacturing facilities are controlled by air conditioning and humidity. The agency states that this is perfect for semiconductor or pharmaceutical industries’ production or storage.
This building also serviced by five dock levellers that are equipped with 40-footer containers for loading and a 4000-ampere power supply and a cargo lift of 3 tonnes. Transportation connectivity is via Tuas Viaduct and the Ayer Rajah Expressway (AYE), and is close towards Tuas Megaport and the Tuas Megaport and Tuas Checkpoint.
A strong rental growth and a renewed lease renewal trend in the 1Q2023 quarter will boost the demand for warehouses of high quality in the face of a shortage of warehouse space, according to Graeme Bolin, head of leasing and occupier services industrial and logistics, CBRE.
He says sixty Tuas Avenue 11 is an opportunity for owners and investors alike to buy the property that has good construction specifications and is located in one of the Tuas production zones.