An industrial opportunity has emerged with the sale of the site located at 51 Tuas View Link, priced at $138 million. This expansive property occupies a total area of 456,810 square feet and is zoned for Business 2 industrial use, which presents a significant prospect for interested buyers. The site, a non-JTC asset, features a private leasehold tenure that initiated in 1996, offering approximately 31 years remaining on the lease—a valuable aspect for investors considering long-term operational plans.
Currently, the property boasts two blocks of single-storey warehouses, providing a total gross floor area (GFA) of 323,831 square feet. The existing plot ratio stands at 0.7, which allows for a variety of industrial applications. However, the potential for redevelopment is where the site really shines. Buyers have the opportunity to increase the plot ratio up to a maximum of 2.5, which would allow for a GFA of 1.14 million square feet. This aspect significantly enhances the site’s attractiveness for developers and businesses looking to maximize their investment and operational capacity.
The expression of interest (EOI) for the site is open until June 10 at 3 pm, with Colliers appointed as the marketing agent. This timeline creates a sense of urgency among potential investors, who may be keen to capitalize on the opportunities presented by the available space and its advantageous zoning.
The industrial sector in the region has seen steady growth, and the strategic location of the Tuas View Link site within Singapore’s industrial landscape adds to its appeal. Given its proximity to major transportation hubs, including the Tuas Mega Port and various expressways, the site is well-positioned for logistics and manufacturing operations.
The potential enhancement of the property through redevelopment could attract a range of businesses seeking to establish or expand their presence in Singapore, a country known for its robust trade and industrial environment. Investors are likely to appreciate the inherent value in the site not only for its existing infrastructure but also for the flexibility that comes with the potential for redevelopment.
The opportunity to increase the plot ratio significantly opens the door for a diverse array of industrial uses, ranging from warehousing to light manufacturing. The strategic foresight in investing in such a property could yield substantial returns as demand for industrial spaces continues to rise.
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News Source: Edgeprop
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