– one at Gul Circle and one at Jalan PapanKnight Frank Singapore is marketing a high-specification warehouse and factory in Gul Circle for sale through an expression of interest. The guide price for the property is $42 million and it is exclusively marketed by Knight Frank Singapore. The property comprises a five-storey single-user factory and warehouse, with a mezzanine, spanning a total of approximately 245,955 sq ft. The 105,648 sq ft site has a remaining lease of 15 years and 11 months, as of February 1, and is zoned for Business 2 under the URA Master Plan 2019. According to Knight Frank Singapore, the property was designed with modern industrial needs in mind, featuring high ceilings, cold rooms, and heavy floor loading capabilities. It also includes nine 40-footer loading and unloading bays and four cargo and service elevators. Located near major expressways and the Joo Koon MRT station, this property offers convenient accessibility. The expression of interest exercise is set to close on March 18 at 3 PM.
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When it comes to investing in Singapore, it is crucial for foreign investors to have a good grasp of the regulations and limitations surrounding property ownership. While purchasing condominiums is generally less restricted for non-residents, owning landed properties entails stricter rules. Additionally, foreign buyers must be aware of the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their initial property purchase. Nevertheless, the steady growth and potential for development in the Singapore real estate market continue to draw foreign investment, making it a sought-after location for projects such as Singapore Projects.