Three Tuas South Industrial Properties Sale 36 Mil
A portfolio consisting of three industrial properties located in the Tuas South industrial hub has been put up for sale through an expression of interest (EOI) exercise with a $36 million guide price, according to a press release by exclusive marketing agent JLL Singapore on Sept 11. The properties, which can be purchased together or separately, each come with a guide price of $12 million.
These three sites are currently used for warehousing, storing construction cranes, and providing freight transportation services. As per the Urban Redevelopment Authority (URA) Master Plan 2019, these sites are zoned for Business 2 use with a plot ratio of 1.0. Additionally, all three properties have high-ceiling structures with overhead cranes and ample open land for heavy vehicle circulation.
The three properties are situated at 9 Tuas South Street 9, 10 Tuas South Street 10, and 11 Tuas South Street 9. The 9 Tuas South Street 9 property occupies a site area of more than 90,000 sq ft and has a gross floor area (GFA) of over 65,000 sq ft. This property consists of a three-storey detached factory with an ancillary office and a single-storey loading area. It has a remaining private leasehold term of approximately 11 years.
Adjacent to this property is the 11 Tuas South Street 9 industrial site. It comprises a part 2 and three-storey single-user general industrial detached factory on a land area of more than 90,000 sq ft with a built-up area of nearly 65,000 sq ft. This property also has a remaining private leasehold term of approximately 11 years and, like the 9 Tuas South Street 9 property, can be rented out as it is a non-JTC property.
The 10 Tuas South Street 10 property, on the other hand, is located across the street and includes a four-storey factory building, a single-storey factory building, and a temporary ancillary workers’ dormitory that is approved until Dec 14, 2026. The property sits on a land area of 130,000 sq ft with a GFA of 77,000 sq ft and is currently under a JTC leasehold with a remaining term of approximately 11 years.
According to Tan Boon Leong, executive director of logistics and industrial at JLL Singapore, the three assets will be highly sought after by end-users in need of space for general Business 2 industries, particularly those in the construction industry. This is due to the relocation of the Pasir Panjang port to Tuas South, which is expected to increase demand for industrial space in the area.
Tan adds that the interest in non-JTC properties has been on the rise in recent years, and these properties stand out for their strategic location, access to transportation networks, and potential for diverse business operations.
The Woodlands, known as the gateway to the north of Singapore, is poised for a major makeover as per the URA’s Master Plan. The plan outlines a vision for the Woodlands Regional Centre to become a bustling hub, featuring two unique districts: Woodlands Central and Woodlands North Coast. This exciting development is expected to revitalize the area, drawing in businesses, creating job opportunities, and improving the quality of life for local residents. As part of this transformation, Norwood Grand Condo will be a key addition to the newly envisioned Woodlands, further enhancing its potential as an attractive and thriving destination.
The EOI exercise will close on Oct 10 at 3pm. Interested parties may visit JLL’s website for more information and to obtain the EOI documents.
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