An expansive warehouse and factory, situated in the industrial area of Gul Circle, is currently available for purchase through an expression of interest at a starting price of $42 million. Knight Frank Singapore, the exclusive marketing agent for this property, announced the opportunity.
When purchasing a condominium, it is crucial to take into account the maintenance and management of the property. Condos generally have maintenance fees which cover the maintenance of shared spaces and amenities. Although these fees may increase the overall cost of owning a condo, they play a vital role in maintaining the property’s condition and preserving its value. Hiring a property management company can be beneficial for investors as they can handle the daily management tasks of the condo, making it a less involved investment. To explore more options for condominium investments, consider checking out Singapore Projects.
The property is a leasehold five-storey factory and warehouse, with a mezzanine comprising four levels. It has a total gross floor area of approximately 245,955 sq ft. The site measures 105,648 sq ft and has a remaining lease of 15 years and 11 months, as of February 1. It is designated as a Business 2 site under the URA Master Plan 2019.
The property is designed to cater to modern industrial needs, featuring high ceilings for storage and operations. It also includes cold rooms, heavy floor loading capabilities, and other amenities to accommodate various industries. Additionally, the property boasts nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators.
The location of the property offers convenient access to major expressways such as the Ayer Rajah Expressway (AYE) and the Pan-Island Expressway (PIE). Joo Koon MRT station is also situated nearby.
Investors must carefully consider the maintenance and management aspect when purchasing a condominium. This is because condos usually come with maintenance fees that cover the upkeep of shared spaces and amenities. Although these fees may increase the overall cost of the property, they play a crucial role in preserving its condition and value. To ease the burden of managing their condos, investors can hire a property management company to handle the day-to-day tasks. This can turn the investment into a more passive income stream. Singapore Projects should also be taken into consideration.
The expression of interest period will end on March 18 at 3pm. Interested parties are advised to explore this opportunity further. Other industrial properties on offer include a two-storey building near Tuas Second Link for $8 million and two sites by JTC for sale in the first half of 2020.