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Jones Lang LaSalle (“JLL”), on behalf of the Vendor, is pleased to offer a high quality industrial building located in the Ubi District, Singapore for Sale & Leaseback.
Refurbished in 2011, the Property is a high quality 5-storey single-user light industrial building with a basement located within Jurong Town Corporation’s (“JTC”) industrial clusters and benefits from the range of amenities available within the Ubi District.
Held on a 30 + 30 year leasehold tenure from HDB, the Property comprises 98,264 sqft of Gross Floor Area (“GFA”) over five (5) levels.
Current usage at the respective levels are as follow:
Level 1: light manufacturing processes and client receiving area
Level 2 – 5: general office function
The offering provides an excellent opportunity to acquire 100% interest of a quality industrial building, with a long term leaseback to the Vendor.
KEY INVESTMENT HIGHLIGHT
- Long Term Leaseback with Fixed Annual Escalation of 2.0%: Provision of steady income stream with fixed annual rent increases.
- Strong Tenant Covenant: Current tenant (a subsidiary of the Vendor) is a SGX Mainboard listed company which focus on products and services in segments such as telecom value added services, high-end consumer mobility products as well as IT related professional and managed services.
- Rare Industrial Land with Long Tenure: Today, industrialists who are being allocated sites by the authorities or acquired through GLS, generally have a land tenure of 20-30 years with no option to extend. This investment offering provides a rare opportunity to acquire an asset that has a longer land tenure.
- Excellent Site Dynamics: The Property is highly accessible via Pan-Island/ Kallang-Paya Lebar Expressways and within a short distance to Ubi and Tai Seng MRT Stations on the Downtown Line and Circle Line respectively. Situated within existing industrial clusters and with surrounding infrastructures largely developed, the Property enjoys unparalleled site dynamics.
- Age/ Condition: Having refurbished in 2011, the Property is relatively new, and it has been very well maintained.