Savills Singapore, as the exclusive marketing agent, is pleased to offer for sale a freehold strata industrial unit occupying an entire floor in Amtech Building (“the Property”).
Comprising of 1 title, the Property is located on the highest floor of Amtech Building and has a strata area of about 13,423 sq ft. The unit has direct passenger and cargo lift accesses and is entitled to 2 carpark lots. Featuring high ceiling height with regular floor plate and column-free layout, the unit is bright and well ventilated with ample of windows along the unit.
Amtech Building is a 7-storey flatted factory with a 2-storey ancillary building, featuring dedicated drop-off points, ample sheltered and surface carpark lots. Zoned “Business 1” under Master Plan 2019, the development has a highly sought-after freehold tenure. Sitting at the junction of Sin Ming Road and Sin Ming Drive, Amtech Building enjoys a prominent dual road frontage of approximately 210 metres. Surrounded by numerous coffee shops located at the ground floor of the HDB flats and cafes housed in the shophouses along Upper Thomson Road, the development is in close proximity to popular amenities such as Thomson Plaza and Junction 8.
Primely situated amidst the mature Thomson residential enclave, Amtech Building is nearly fully sheltered from Upper Thomson MRT station which is just a 7 minutes’ walk away. Well served by major arterial roads and expressways such as Marymount Road, Upper Thomson Road, Lornie Road and Central Expressway, the Property will also see enhanced connectivity with the North-South Corridor completing in phases starting from 2027. Upon completion, the multi-modal transportation corridor will be connecting the northern part of Singapore to the city centre while supporting and boosting accessibility to existing and new towns such as Woodlands, Sembawang, Lentor, Bishan and Rochor, amongst others.
Designed to meet the needs of the automotive industry, the Sin Ming industrial cluster predominantly sits on state-owned land and primarily comprises of JTC projects such as LTA Customer Service Center, single-storey terrace workshops, industrial complexes like Sin Ming AutoCity and Sin Ming AutoCare.
Ms Dayna Ang, Investment Sales & Capital Markets at Savills Singapore, said: “Amtech Building is arguably the only freehold strata-titled industrial development in the Sin Ming industrial cluster in contrast to Midview City which has a balance tenure of 44 years. Ownership within Amtech Building is tightly held and the opportunity to purchase an entire floor within the development hardly comes by. With the ongoing rejuvenation in the immediate vicinity, incoming buyers can expect strong capital upside and rental appreciation in the mid to long term.
The Bishan – Thomson precinct continues to undergo transformation with the opening of the Upper Thomson MRT station in November last year, the relocation of Raffles Girls School, the establishment of Eunoia Junior College and the ongoing construction of the North South Corridor that will see enhanced connectivity to the rest of Singapore. In December 2023, Housing and Development Board (HDB) launched the highly anticipated Sin Ming Build-To-Order (BTO) development which is located just across the road from Amtech Building. This will see 730 new flats comprising of three and four-room flats being injected into the neighbourhood which is slated to complete in 2027.
Ms Ang adds: “We have been receiving more enquiries from buyers regarding commercial and industrial properties following the government’s announcement of increasing Additional Buyer Stamp Duty tax rates from 30% to 60% for foreigners and increasing property tax for non-owner-occupied residential properties. Given the highly desirable freehold tenure and limited industrial strata supply in the affluent and mature Thomson enclave, we expect strong interest from both investors and industrialists as such freehold city fringe industrial units are hardly on the market.”
The guide price for the unit is $15.4 million which translates to $1,150 psf on strata area. No Additional Buyer’s Stamp Duty is applicable on the purchase of the unit and foreigners are eligible to purchase. Expression of Interest closes on 8 February 2024, Thursday at 3pm.