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With a gross floor area of 161,782 sq ft, the B1 industrial building sits on 64,713 sq ft site with a gross plot ratio of 2.5 under the URA Master Plan. The site has a balance lease of 36 years as of August 2021. Photo: Wintech Centre CSC
The owners of Wintech Centre, a 60-year leasehold light industrial building at Ubi Road, have elected their Collective Sale Committee (CSC) on 18 August to embark on their first collective sale.
With a gross floor area of 161,782 sq ft, the B1 industrial building sits on 64,713 sq ft site with a gross plot ratio of 2.5 under the URA Master Plan. The site has a balance lease of 36 years as of August 2021.
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The property is near MacPherson MRT and Paya Lebar MRT stations. It is also close to various amenities including Joo Chiat Complex, Tanjong Katong Complex, City Plaza as well as eateries at nearby buildings like Canteen at Lion Building, Capricon Café at Paya Ubi Industrial Park and Kopitiam at Ubi Techpark.
“Wintech Centre is expected to benefit from the development potential arising from the future Paya Lebar Master Plan expected around 2030,” said Ken Lim, CSC Chairman for Wintech Centre.
“This area will be rejuvenated and progressively transformed into a highly liveable and sustainable location. Furthermore, it is in close proximity to the expressways and transportation network, as well as the Paya Lebar Central Commercial Hub.”
He noted that property analysts expect the collective sales market to regain momentum in 2021 to 2022, while property auctioneers have revealed that interest in industrial properties has rebounded over the last two quarters.
In fact, savvy investors have “increasingly turned their attention to Business 1 (B1) and Business 2 (B2) units, which have experienced relatively stable property values over the past few years”.
And with the manufacturing sector expected to post a strong recover this year, Lim believes that increased demand for global chip and pharmaceutical products could lead to higher demand for industrial space.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
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