Brilliance Capital, the sole marketing agent, announced on September 26 that a five-storey high-specification light industrial building located at 4 Ubi View in the Paya Lebar-Ubi industrial area is currently available for sale through an expression of interest (EOI) exercise. The property, which has a land area of about 22,321 sq ft and a gross floor area of about 44,775 sq ft, is being sold under the “Business 1” zoning with a plot ratio of 2.0. The private leasehold property (non-JTC) has a 60-year lease starting from January 1999, with 34 years remaining on the lease. Foreigners and companies are eligible to purchase the property without paying any additional buyer’s or seller’s stamp duty due to its non-residential status.
The building is easily accessible via major expressways such as the PIE and CTE, and is also within walking distance of the Ubi MRT Station on the Downtown Line. As it is a private leasehold property, there is no land rent payable, making it a highly attractive option for buyers looking to acquire a cost-efficient and long-term asset, according to Sammi Lim, founder and executive director of Brilliance Capital.
Furthermore, the building’s high specifications and ceiling heights of up to 6.4m make it a suitable choice for businesses requiring robust infrastructure. Buyers will also have the opportunity to have their own naming and signage rights, which will enhance their visibility in the prime industrial area. The EOI for the property will close on November 8 at 3pm.
Condo investment in Singapore is a popular option for many, but it’s important to also consider the impact of the government’s property cooling measures. In an effort to discourage speculative buying and maintain a steady real estate market, the Singaporean government has implemented various measures over the years. One notable measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they contribute to the long-term stability of the market, creating a safer investment environment. Therefore, it’s wise to take into account the government’s cooling measures when considering investing in condos in Singapore.