Gemini @ Sims - New B1 Business Space at Geylang

Gemini @ Sims is a new B1 Development at Sims




Nanyang Gum Benjamin Manufacturing (Private) Limited has sold its freehold landed factory (pictured), located near the junction of Sims Drive and Lorong 17 Geylang, for S$43.18 million (S$495 psf ppr).

The 34,912.7 sq ft site was reportedly purchased by a subsidiary of the Fong Tat Group of Companies. With a gross plot ratio of 2.5, the site is zoned for Business 1 use, such as light industry, public utility, clean industry, warehouse and telecommunications.

“Capital appreciation for industrial properties are amongst the most attractive in the real estate market right now,” said Jeffrey Goh, Head of Investment Sales at HSR.

“Baring any unforeseen circumstances, this attractive price growth looks set to continue for some time because freehold industrial properties are a much sought-after asset class for companies and investors switching their investments into the industrial sector,” he added.

According to HSR Investment Sales, prices of industrial property climbed 7.3 percent in Q1 and 8.4 percent in Q2.

“Better building specifications, modern architectural designs with communal lifestyle facilities, as well as a diversified use of superior building materials have contributed much to this sector’s allure to investors & end-users alike in recent months,” noted Goh.

HSR expects the new multi-user light industrial building project to yield around 45 to 50 strata titled units measuring 150 m or less.