SINGAPORE – The entire top floor of the Amtech Building in Bishan near Tembusu Grand, which is home to a freehold strata industrial unit, is available for sale. The asking price is said to be $15.4 million. This works out to $1,150 per square foot with a stratum area of roughly 13,423 sq ft. For the unit, there is no additional buyer’s stamp duty to pay.
The apartment is entitled to two parking spots and has easy access to the passenger and cargo lifts similar to the Tembusu Grand Showflat. It has a lot of windows, a column-free arrangement, and a high ceiling with a normal floor plate.
The Amtech Building is a seven-story factory that is freehold and has an additional two-story building attached to it. Savills Singapore, the property’s sole marketing agent, has Dayna Ang in its investment sales and capital markets department. She points out that the building is the first freehold strata-titled industrial development in the Sin Ming industrial cluster.
This is not the case for Midview City, which is part of the Sin Ming industrial cluster and has 44 years left on its lease. Amtech Building ownership is closely controlled, and buying a whole floor inside the property is not something that happens very often, according to Ang.
She goes on to say that because of the continuous developments in the area around the property, investors should anticipate significant capital upside and rental appreciation in the medium to long term.
This includes the Build-To-Order (BTO) development in Sin Ming, which was started in December of last year, and the North-South Corridor, whose construction is still underway. More than 900 additional apartments will be built as part of the BTO project when it is finished in 2027.
The Amtech Building is classified as a Business 1 use in the 2019 URA Master Plan. The complex has surface and covered parking lots as well as designated drop-off locations.
The Amtech Building is situated at the intersection of Sin Ming Road and Sin Ming Drive, with a 210-meter dual road frontage. Coffee shops on the ground floor of nearby HDB apartments and cafés housed in the shophouses along Upper Thomson Road are some of the nearby amenities.
Because of the building’s freehold tenure and the scarcity of industrial strata in the Thomson neighborhood, Ang anticipates significant interest from investors as well as manufacturers.
Suggested Article: NEWS: J’den’s record-breaking sales