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Wenul Assets (Industrial), the developer of Gemini @ Sims (pictured), is selling 13 strata units on its ground floor via expression of interest (EOI), with offers above $900 psf expected.
With a combined strata floor area of around 40,375 sq ft, all the units have similar layouts, with sizes ranging from 2,626 sq ft to 3,670 sq ft.
Gemini @ Sims is a seven-storey light industrial building comprising 83 strata-titled units. The freehold building is located at the corner of Sims Close and Lorong 17 Geylang.
“The developer had consciously withheld from selling any of the ground floor units during the construction period, despite receiving many enquiries from prospective purchasers. Now that the project has obtained its TOP, they are prepared to offer the units for sale,” said Yong Choon Fah, National Director at JLL, the marketing agent.
She revealed that the vendors are open to selling all 13 units to a single buyer or to multiple buyers.
Describing this as a rare opportunity, Yong noted that the sale poses an attractive proposition to investors or occupiers as it offers an almost exclusive use of the ground level.
She added that the units may appeal to owner-occupiers in search of a large, ground floor presence such as companies in e-businesses and telecommunications, furniture warehousing and retail, light fittings and building materials suppliers.
With the property zoned for Business 1 use, other users could include computer software development, distribution services, assembly and repair of computer hardware and electronic equipment, printing and publishing industries.
“For example, the space could be ideal as a display and service centre for a technology company, or a one-stop home furnishings centre,” said Yong.
“Showrooms may be allowed as an ancillary use, subject to approval and payment of development charges.”
The EOI exercise for the units will close on 24 February.
Image source: JLL
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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