Situated at 162 Tagore Lane, a rare freehold factory building is currently available for sale, offering a total floor area of 14,701 square feet across four storeys. This property, listed at an asking price of $23.8 million, translates to approximately $1,619 per square foot based on its total floor area. The valuation reflects not only the space available but also the advantages associated with owning a freehold industrial property in a market where such offerings are limited.
Zoned for Business 1 use, the property is well-suited for clean and light industrial activities. This zoning classification provides flexibility for various business operations, allowing potential owners to utilize the lower floors for office or business purposes. Such versatility is an attractive feature for prospective buyers, as it opens up multiple avenues for income generation or operational efficiency.
The building's contemporary design further enhances its appeal, catering to modern industrial needs while also providing a visually pleasing environment for employees and clients alike.
The fourth floor of the building previously held approval as a workers' dormitory, with the capacity to accommodate up to 60 workers. This unique aspect adds another layer of potential for new owners, who may wish to reinstate this use. However, it is important to note that any new owners will need to apply for approval to reinstate the dormitory function, ensuring that it meets current regulatory requirements. This flexibility in usage can be a significant value-add, particularly in a business environment where workforce accommodation is often a logistical challenge.
The limited supply of freehold industrial properties in the area contributes to the investment appeal of this listing. As demand for such assets continues to grow, recent transactions in the vicinity have indicated a strong market interest. This trend suggests that potential buyers may find themselves in a competitive bidding environment, emphasizing the importance of acting promptly should they wish to secure this property.
Investors and business owners alike will find that the combination of a prime location, ample floor space, and zoning suitability makes this building an exceptional investment opportunity. The strategic location along Tagore Lane provides easy access to major transportation routes, facilitating logistics and connectivity for businesses operating within the facility.
With the ongoing evolution of the industrial landscape, the prospects for this property are promising. Buyers looking to capitalize on the current market dynamics will recognize the rarity of such an offering. As the sale progresses, interested parties are encouraged to assess their needs and consider how this property could serve as a long-term asset in their portfolio.
RETAIL & OFFICES SPACE FOR SALE: FORTUNE CENTRE
Fortune Centre offers an attractive opportunity for businesses with both retail and office spaces for sale.
The Fortune Centre floor plan accommodates various needs, appealing to startups and established companies due to its competitive pricing.
View FORTUNE CENTRE Retail Shops and Offices for sale by contacting 6200 6220.
News Source: Edgeprop
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