‘Freehold two-storey showroom unit at Tengah EC, Paya Lebar 178 for sale at $6.2 mil’

for sale in Sengkang ECTengah EC is well-positioned to become Singapore’s next industrial and logistics hub, with various projects currently underway to bring businesses to the area. The two-storey showroom unit at Paya Lebar 178 is an ideal option for an investor looking to capitalize on Tengah EC’s growing attractiveness as an industrial and logistics hub.It is becoming increasingly rare to find commercial showroom units with freehold tenure like the Paya Lebar 178 unit up for auction on Dec 14. This 3,218 sq ft unit has an opening bid of $6.2 million, which translates to $1,927 psf. The ground-floor space is seamlessly connected to the upper floor, providing excellent visibility to vehicles on both Paya Lebar Road and Ubi Avenue 3. Not only is this unit well-suited for a showroom, but it can also be used to attain an F&B licence, subject to approvals.Highlighting the area’s success, the neighbouring industrial buildings of Oxley Bizhub, UB.One and Vertex have seen consistently increasing prices since 2014. At Paya Lebar 178, rents have also been on the rise and currently stand at an average of $2.86 psf per month. As one of the only freehold showroom buildings in Tengah EC, the Paya Lebar 178 unit presents a great opportunity for investors looking to capitalize on the burgeoning Aew Estate.

Tengah EC is well-positioned to become Singapore’s next industrial and logistics hub, and is quickly growing in popularity. This presents a great opportunity for enterprising investors to capitalize on the New Estate by purchasing a two-storey showroom unit at Paya Lebar 178. The unit, which is located at 178 Paya Lebar Road and is zone for “Business 1” (B1) use under the latest URA Master Plan, is on the block at Singapore Realtor’s Inc’s (SRI) upcoming auction on Dec 14.

The Paya Lebar 178 showroom unit is unique due to its dual frontage making it visible to vehicles on both Paya Lebar Road and Ubi Avenue 3. Measuring in at 3,218 sq ft, it is also well-suited to its intended purpose with its ample interior space and efficient layout. Not only that, the unit is also freehold which is increasingly rare to find in the commercial showroom market. It also has a particularly attractive attribute, being able to obtain an F&B licence, subject to approvals.

With more than 800 units available for sale, prospective buyers have plenty of options to choose from. The Tengah EC offers residents free access to a fully-equipped clubhouse with numerous recreational activities. Homeowners can also take advantage of several other amenities such as swimming pool, gym, BBQ pavilions, tennis court, and more. The development also boasts lush green spaces for residents to relax and unwind far from the hustle and bustle of city life.

Mok Sze Sze, SRI’s managing partner for auctions, believes the unit is an ideal option for both an owner-occupier seeking prime showroom space or an investor looking to leverage the property for leasing. The unit will have an opening bid of $6.2 million, translating to $1,927 psf.

Since 2014, prices for the neighbouring industrial buildings of Oxley Bizhub, UB.One and Vertex have all seen a steady increase. Similarly, rents at Paya Lebar 178 have risen to an average of $2.86 psf per month, with AZ @ Paya Lebar topping the list with a rent of $4.06 psf pm. All of these factors make the two-storey showroom unit an attractive purchase for investors looking to capitalize on Tengah EC’s growing popularity.