A FREEHOLD ramp-up light industrial building will be coming up at 9 Tagore Lane and its developer is putting it up for sale.
The four-storey 9@Tagore will comprise 124 units ranging from 1,800 sq ft to 4,800 sq ft. Prices for the units start from $410 per sq ft, and the building is expected to receive temporary occupation permit at end-2011.
3M Building, which currently occupies the site, will make way for the new property developed by Chiu Teng @ Tagore Pte Ltd.
Colliers International is marketing 9@Tagore. According to its industrial director Tan Boon Leong, the building is the only freehold ramp-up industrial development in Singapore that is available for strata sale.
9@Tagore would attract companies looking for new space given that most of the existing industrial developments in the vicinity are five to 20 years old, he said.
‘Additionally, given its high potential yield of 5-6 per cent, the development is also likely to appeal to investors,’ he added.
‘On the back of an expected improvement in both the economy and the manufacturing sector, as well as more optimistic business sentiment, we expect to see a pick up in the demand for industrial space.’
9@Tagore will have an integrated ramp-up driveway providing direct access to all units. There will also be a loading bay for 40-foot prime movers.
Units there would be suitable for housing storage facilities, light assembly and production facilities or ancillary showrooms. Most of them are column-free and have a floor-to-ceiling height of six metres.
Source: Business Times, 19 Jan 2010
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