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

The owners of Wintech Centre, a strata-titled light industrial building at 6 Ubi Road 1, are almost ready to launch the building for an en bloc sale. Located near the MacPherson MRT Station, the building has been zoned for B1 industrial use by the URA Master Plan and currently has a 60-year lease from 1997.

Organized by a Collective Sale Committee (CSC), the sale of Wintech Centre has been given a revised reserve price of $98 million. CSC Chairman Ken Lim believes the sale is now likely to receive the necessary 80% approval. “Given [recent property cooling measures], we think additional demand will be seen for industrial properties,” says Lim.

This is supported by the earlier sale of J’Forte Building, a high-spec industrial building located less than a 10-minute drive from Wintech Centre. In January 2021, Metro Holdings and Boustead Projects announced that they, together with an independent institutional third-party, were jointly acquiring J’Forte Building for $98.8 million. This sale was brokered by Knight Frank.

The development will integrate many green features and will be located Tengah EC near the bustling Tengah MRT Station.

On top of this, Wintech Centre has already started to receive interest from investors, including a REIT fund, according to Lim.

The property sits on a land area of 64,713 sq ft and the current gross floor area is 161,782 sq ft. It is also located close to Tanjong Katong Complex, Joo Chiat Complex and City Plaza.

With the assistance of Weston Vision Realty as the sole marketing agent, and Tan & Au LLP as the appointed lawyer, the owners of Wintech Centre are confident that this could be an opportune time to launch the collective sale.