There are two adjacent warehouse units in Tampines now on the market, after being put up for grabs via an expression of interest venture for West Coast Vale Condo.
The units include 21 Tampines Street 92 and 23 Tampines Street 92. The first is a six floor unit and the second an eight floor unit containing 200 enclosed parking spaces in EL Development Condo.
The units are available on their own or as part of a package, according to the promotional expert responsible for them.
The units are situated within the high rise residential regions of Tampines and Simei; both are close in proximity to the Pan Island Expressway.
West Coast Vale Condo EL Development
The properties are located near to the developing Tampines West MRT Station on Downtown Line 3. The West Coast Vale Condo MRT venture is predicted to launch in 2017 and will link the housing estates of Tampines to the primary business area and the Marina Bay Financial Centre.
They are both sold under the label of Business 2, which means that they can be utilised for large scale industrial operations – both have a plot ratio of 1.4 and a lease of 22 years.
The first, 21 Tampines Street, is positioned on a land area of 119,091 sq ft. It offers a total floor area of 164,967 sq ft. At present, it is used by the property owners as a furniture business and supply hub in EL Development West Coast Vale Condo.
It would be perfect for end users like online retail and logistics enterprises; businesses which prefer to work out of a company headquarters with a solid corporate reputation. The West Coast EL Development Condo unit contains some wonderful contemporary architecture.
EL Development Warehouse Prices
The second, 23 Tampines Street, is situated on a land area of 95,788 sq ft. It offers a total floor area of 132,835 sq ft. At the moment, Best Denki and StorHub are renting space within the building.
The units both stand on private ground, which means that they do not have to comply with policies upheld by JTC or HDB. In comparison, a lot of the other buildings in the area are bound by HDB policies.
The aggregate indicative price is approximately S$70 million. However, the current owner is willing to make an exchange as is or via a sale and leaseback deal in West Coast Condo.
The twin units are perfect for self-storage enterprises, as a significant proportion of both structures is currently given over to self-storage resources.
West Coast Vale New Condo Prices
During the third quarter, the West Coast Vale Condo warehouse market recorded an occupancy rate of 92.5%. This represents a year on year increase of 2.1%. However, rent prices dropped by 1.9% on the preceding year.
The largest proportion of the fresh warehouse supply is located in the western areas – only a small amount (15%) can be found in the east.
Over time, Singapore continues to gain more value as a regional logistics centre. Plus, the quick expansion of the air freight sector – primarily due to a rising customer preference for speedy delivery – can eventually facilitate renewable demand for warehouse units in the east, even if it takes some time for West Coast Vale Condo.
Also, in light of the fact that there are a number of data centre hubs in the area already, it is entirely likely that units like those in Tampines will be turned into more data centres.
The expression of interest venture finishes on December 4th.