International property consultant, Colliers International has been appointed as the lead marketing agent for a brand new four-storey ramp-up light industrial building located at 9 Tagore Lane. Named 9@Tagore, the freehold property is developed by Chiu Teng @ Tagore Pte Ltd.
9@Tagore comprises a total of 124 units, ranging from 1,800 sq ft to 4,800 sq ft in size. Most of the units are column free, with a loading capacity of up to 15 kN per sq m and a floor-to-ceiling height of 6.0 m.
The development´s Temporary Occupation Permit (TOP) is targeted at the end of 2011.
Mr Tan Boon Leong, director of Industrial at Colliers International, says, “9@Tagore is, by far, the only freehold ramp-up industrial development in Singapore that is available for strata sale.
As the majority of the existing industrial developments in the vicinity are 5-20 years old, 9@Tagore is an attractive development suited for companies looking to secure a brand new industrial space at affordable price. Additionally, given its high potential yield of 5-6 per cent, the development is also likely to appeal to investors. Prices for the units start from S$410 per sq ft.
Tan also explained that the expected improvement of Singapore economy as whole, including the manufacturing sector. Also an optimistic outlook in business sentiments could lead to a increase in demand for industrial space.
Enjoying a prominent road frontage along Upper Thomson Road, 9@Tagore is surrounded by flatted factories/warehouses, detached factories and light industrial buildings. It also enjoys easy access to other parts of the island via the Central and Seletar Expressways while Ang Mo Kio and Yio Chu Kang MRT stations are also just a short drive away.
Source : Property Report Asia
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