SINGAPORE, Nov. 29, 2023 /PRNewswire/ — Brilliance Capital proudly presents a unique and rare offering — a portfolio comprising six adjoining freehold corner duplex B1 strata industrial units located on the top floor of Apex @ Henderson. Situated at the convergence of Jalan Bukit Merah and Henderson Road, this remarkable development stands prominently at the southernmost fringe of the Central Business District.
Strategically positioned, the property is a street away from Bukit Merah Central, within walking distance to Redhill and Tiong Bahru MRT stations, and well-connected via Ayer Rajah Expressway and Central Expressway. With easy access to key locations like One North & Science Park, Orchard Shopping Belt, and the Great Southern Waterfront, the property accommodates occupants from various sectors, including Home & Furnishing, Telemedical, and Consultants.
Built with quality finishes and a modern façade design, Apex @ Henderson obtained its Temporary Occupation Permit circa 2015. The development features dedicated drop-off points, sheltered car parking with ample lots, EV charging stations, and modern lobby areas. Lifestyle amenities, including a lap pool, gymnasium, barbeque pits, and a sauna room, which are rarely found in industrial buildings. The development is well served by 6 passenger lifts and 2 service lifts.
The six adjoining corner units, configured in a Northeast orientation on the 9th floor, are currently utilized as a unified postproduction setup. They include a reception area, open office space, partitioned offices, conference rooms, pantry area, discussion areas, senior management room with ensuite bathroom, storage area, private terraces with balconies, male & female washrooms, and a dedicated server room. The mezzanine level features a general production area, meeting rooms, partitioned offices, and a break-out area. All units boast approximately 6.5m full-height glass windows for ample natural lighting and scenic views.
Offered for sale on a vacant possession basis, the extensively renovated units present an attractive turnkey solution, and can benefit the incoming buyer, as well as streamlining the leasing process for potential tenants should the buyer chooses to lease out the units.
Ms. Sammi Lim, Founder and Executive Director of Brilliance Capital Pte Ltd, remarked, “Such a B1 industrial strata portfolio that comes with 6 adjoining corner units with mezzanine level is rare to come by in today’s market. Given its prime city fringe location, relatively new completion and freehold tenure, we expect strong interest from both investors and especially so from owner-occupiers who are able to tap on this opportunity to purchase a grandiose turnkey industrial asset in one of Singapore’s most desirable privately developed light industrial estates.
With limited freehold B1 supply and the development’s convenient accessibility, it is poised for robust capital and rental appreciation. This is an enticing investment opportunity for forward-thinking investors too. The 6 individual strata titles also provide flexibility for the buyer to sell down the units on a piecemeal basis or rent them to multiple tenants. We anticipate keen interest from industrialists, both local and overseas corporates, institutional funds, private funds, family offices, and ultra-high net worth individuals.
Based on the guide price of S$16.3 million, translating to approximately S$1,044 per square foot on the strata area, this pricing is attractive for a quality B1 new build with freehold tenure, considering the tight supply conditions in the industrial assets market. Real estate remains a good hedge against inflation, attracting buyers from both local and overseas wealth markets. Furthermore, the government’s cooling measures in April 2023, which increased the Additional Buyer’s Stamp Duty for foreigners purchasing any residential property from 30% to 60%, have heightened foreign investors’ interest in alternative real estate options, such as commercial and industrial properties.
Overall, Singapore’s strategic location, stable political and economic environment, a strong and deep talent pool, proximity to key high-growth markets, and vibrant business ecosystem make it an attractive location for large multinational companies, international retailers, and service providers looking to establish a presence in Southeast Asia. This unique asset is strategically positioned to capitalize on the potential upside in Singapore’s industrial real estate sector.”
As an Industrial ‘Business 1’ zoned property, this purchase is open to both local and foreign buyers with no additional buyer’s stamp duty (ABSD).
Brilliance Capital is the sole marketing agent for this sale.
About Brilliance Capital Pte. Ltd.
Brilliance Capital is a full-service real estate agency that assists and advises ultra-high net worth individuals, local and foreign family offices, as well as property developers, publicly listed companies, and local and overseas private funds on the purchase and sale of real estate assets. Founded and led by Sammi Lim, the firm engages the industry’s most elite professionals, and boasts a dynamic team of agents specializing in the sale and leasing of the entire spectrum of properties which include residential condominiums, landed houses, commercial properties, industrial assets, collective sales, as well as consultancy and advisory services.
SOURCE Brilliance Capital