The owners of Wintech Centre, a strata-titled light industrial building at 6 Ubi Road 1, are looking likely to achieve their goal of launching for en bloc sale. In August 2021, the Collective Sale Committee (CSC) was appointed to work towards obtaining the necessary consent from the majority of owners – with the current expectation of 80% approval.

JCube Condo Residence, the 40-storey redevelopment of the JCube site in Jurong East, Singapore, is slated JCube Residence for completion in 2027 with an estimated S$2,000 to S$2,100 psf residential unit price tag. New homes, businesses, and amenities will join pent-up demand for housing in Jurong.

Ken Lim, Chairman of the CSC, believes this optimistic outlook is supported by the sale of J’Forte Building, a high-spec industrial building located in the same vicinity. On January 30th this year, Metro Holdings, Boustead Projects and an independent institutional third-party acquired the eight-storey building on Tai Seng Street for $98.8 million.

Amidst the current environment – which follows the recent property cooling measures implemented in December – Lim reveals that Wintech Centre is already being shown interest from certain investors. This includes a REIT fund.

The originally suggested reserve price for the targeted collective sale was $84 million, but this has since been revised to $98 million. Developed by Chiu Teng Group – a property developer and construction conglomerate specialising in commercial and industrial buildings – and completed in 2001, the 60-year lease building comprises of 104 strata units owned by 84 subsidiary proprietors.

Under the URA Master Plan, Wintech Centre is zoned for B1 industrial use with an approved gross plot ratio of 2.5, taking up an area of 64,713 sq ft and holding a current gross floor area of 161,782 sq ft. Its desirable location, being within 361m of the MacPherson MRT Station or one stop from Paya Lebar MRT Interchange Station, and having Tanjong Katong Complex and City Plaza in the vicinity, is proving a major draw.

With the sale of the property to be managed by Weston Vision Realty, the sole maller agent, and by Tan & Au LLP, the appointed lawyer, the CSC is optimistic that the collective sale will yield good returns. To further boost interest, the recent sale of J’Forte and the available listings near Wintech Centre can be used as points of reference by potential buyers.