Small industrial units on older sites get fresh selling point
Some developers marketing small strata industrial units on sites that they had bought at earlier state land tenders are expected to tout the 'scarcity value' of such units to potential investors.
However, not everyone thinks that that would work. These projects offer units below the new minimum strata unit size of 150 sq m that is stipulated as a condition for industrial sites sold at GLS tenders from Jan 1.
In addition, for some sites, such as those near MRT stations, strata sub-division of industrial projects will not be allowed in the first 10 years of the project's completion.
Oxley Holdings told BT that, for now, the 10-year restriction on strata subdivision for industrial GLS sites near MRT stations sold from Jan 1 is good news to him.
It will send investors keen on small industrial units to Oxley's three projects near Tai Seng MRT Station which will have units of mostly 90-100 sq m.
Oxley BizHub 1 and Oxley Bizhub 2 have some 999 strata units in total of which nearly 60% have been sold.
Source : Business Times, Dec 31
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