A $50 million industrial building on Ubi Avenue 4 is on the market
A five-storey industrial structure located at the 152nd floor of Ubi Avenue 4 is up for sale at a price of $50 million as part of the expression of interest (EOI) exercise. It is located in the JTC light industrial plant is located on a total area of 49,187 square feet. It is leased under an agreement for a 30-year lease that came into effective from February 1st 1997. Thus, there are four years left on the lease, and the option of renewal to another thirty years.
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The property is an area gross floor (GFA) of 9549 sq ft with the building can reach 4.5m high ceiling. The building is equipped with high-end flooring that is suitable for a variety of industrial applications. The basement parking space is enough to accommodate 56 vehicles. In the new 2019 Master Plan, the site is designated to “Business 1” use, with an 2.0 plot-to-plot ratio. It has been approved for use in the internet-based commerce and information and communication technology (ICT) industry.
The owner invested $5 million on renovations to the property. The work was completed in the year 2000. The work included updating the reception area, lobby and lift landings, the put green offices and landscaping within the complex. Solar panels were installed on the exterior to improve the sustainability of the building and energy efficient.
The building is equipped with high-end specifications, central air conditioning as well as modern firefighting equipment as well as security equipment. Two passenger lifts as well as two cargo lifts service the building.
Because it’s an industrial B1 building and has a maximum of 40% of the area could be used for office space, according to Sammi Lim, the founder as executive director at Brilliance Capital, who is marketing the property solely.
Smart Innovations Global, a ICT and telecom distributor and service provider, is the owner of the property as per an property Title Search. The company was previously called Armorcoat Technologies.
The area has access through Kallang Paya Lebar Expressway, Pan Island Expressway, Central Expressway and East Coast Park Expressway. It’s about 15 minutes drive from downtown CBD and a 9-minute walking distance up to Ubi MRT Station on the Downtown Line. MacPherson or Tai Seng Stations are also in the area.
The EOI process for the building is due to close on the 23rd of August.