Reserve price for proposed collective sale of Wintech Centre raised to $98 mil

With optimism rising, the owners of the Wintech Centre at 6 Ubi Road 1 are one step closer to launching the property for an en bloc sale. The proposed reserve price for the targeted collective sale has been revised to $98 million. The Collective Sale Committee (CSC) for the development, appointed in August 2021, is confident that it will soon achieve the 80% approval needed to move forward with the sale.

The optimism of the CSC comes on the heels of the sale of a nearby high-spec industrial building, J’Forte. On Jan 30, a joint venture of Metro Holdings and Boustead Projects, together with an independent third-party, acquired the building for $98.8 million.

Interest in Wintech Centre has been mounting over the past few months, including from a REIT fund, Lim notes. He sees the current environment as ideal for such a collective sale, pointing to the recent property cooling measures as likely to drive additional demand for industrial properties.

Built in 2001 by Chiu Teng Group, Wintech Centre is an eight-storey strata-titled light industrial building. It has a 60-year lease from 1997, with a total of 104 strata units owned by 84 subsidiary proprietors. According to the URA Master Plan, the property is zoned for B1 industrial use with a gross plot ratio of 2.5. It has a land area of 64,713 sq ft and a gross floor area of 161,782 sq ft.

Situated within 361m of the MacPherson MRT Station and a 10-minute drive from J’Forte, Wintech Centre is conveniently close to a number of other shopping and commercial complexes, including Tanjong Katong Complex, Joo Chiat Complex, and City Plaza.

Weston Vision Realty has been appointed the sole marketing agent for the collective sale, and Tan & Au LLP have been appointed as the lawyer.

A new Tengah EC eco-friendly executive condominium (EC) project at the heart of the Tengah New District is set to be launched by the Singapore Land Authority. The development features green features such as wind turbines, solar heating systems, and a water conservation centre. It is the first of its kind in Singapore and provides easy access to the city centre and other amenities.

The successful launch of the collective sale of Wintech Centre has the potential to open up a variety of opportunities for investment and development in the vibrant Ubi area of Singapore. With investors already expressing interest and the CSC expecting to gain the necessary majority votes, Wintech Centre is set to become part of the active collective sale market.