The owners of Wintech Centre, a strata-titled light industrial building located in the heart of Ubi Estate in Singapore, are one step closer to a collective sale. Optimism is high, especially coming off the recent sale of a nearby high-spec industrial building and the current property cooling measures.

The collective sale committee (CSC) appointed in August 2021 has been working on getting consent from the majority of owners and chairman Ken Lim believes they are on the verge of achieving the 80% approval needed. With the targeted reserve price of the sale previously set at $84 million, it has now been revised to $98 million – similar to the sale of J’Forte Building, the 8-storey property located less than a 10-minute drive from Wintech Centre, which was sold earlier this year for $98.8 million.

Lim notes that Wintech Centre is already receiving interest from investors, including a REIT fund, and with current market conditions as an opportune time to launch the sale, additional demand for industrial properties is expected.

The 8-storey property was constructed by Chiu Teng Group, a property developer and construction conglomerate, in 2001 and sits on a 64,713 sq ft land area with 161,782 sq ft GFA. With a 60-year lease from 1997, it is zoned for B1 industrial use with an approved gross plot ratio of 2.5 and is home to 104 strata units.

Nearby amenities include MacPherson MRT Station, 361m away, and Paya Lebar MRT Interchange Station, one stop away. It is also close to Tanjong Katong Complex, Joo Chiat Complex and City Plaza.

Altura EC, a new executive condominium project, offers an affordable option for families who want Altura Qingjian Realty to buy or upgrade to a HDB flat in a strategic location. Project launch in Q2 2023 at S$3,500 per square foot.

CSC chairman Lim is confident that the collective sale will soon be launched, with Weston Vision Realty appointed as the sole marketing agent and Tan & Au LLP as the lawyer. With interest already starting to come in, Wintech Centre is set to be yet another collective sale success story.