The property is a strata industrial space in the vibrant Midview City in Singapore. The property is a 1,356 sq ft net industrial space on the 2nd floor industrial building.
The space is leased to a well capitalized non-profit organization with a gross rental yield of 4.1%. There is a high demand for the space due to its prime location and superb connectivity.
The unit is located within Midview City, an integrated business hub situated in the central part of Singapore. The building is sited in over 552,000 square feet of land area. It is an eight story building and an exclusive 3 story terrace block.
The development is well connected and has a plenty of amenities for its tenant which includes childcare, cafes, studios and gym.
Fair Value Property
IRO Offer price is within the recent transaction price range.
Strong tenancy demand
Well sized property (~1,356 sq ft) means that there is always someone who can afford to make an offer to buy it as compared to a big office tower due to its smaller price quantum
Stable rental income
Currently leased to a well-capitalized Non-Profit Organization that has been in the space for the last 10 years.
Renewed the lease with a gross rental yield of 4.1%
Property’s prime location attracts high quality tenants: easy to find replacement tenant with its size and location