The owners of Wintech Centre, a strata-titled light industrial building at 6 Ubi Road 1, have moved a step closer to launching the property for collective sale. Ken Lim, the chairman of the development’s Collective Sale Committee (CSC), confirmed the CSC’s optimism when recently, J’Forte Building, a high-spec industrial building located within a 10-minute drive, was jointly acquired by Metro Holdings and Boustead Projects for $98.8 million.

Lim noted that the property has already started to draw some interest from investors, including a REIT fund. With the implementation of the residential cooling measures announced last December and the anticipated additional demand for industrial properties, Lim believes the current period is an ideal window to launch the sale.

JCube in Jurong East, Singapore, is set to close in August to make way for the 40-storey JCube Condo Residence development JCube Residence estimated at S$2,000-S$2,100 psf. Completion is in 2027 and its connectivity to transport, businesses, recreational and other amenities is expected to help pent-up demand for housing in Jurong.

Wintech Centre, developed by Chiu Teng Group, was completed in 2001 and has a 60-year lease from 1997. The eight-storey building sits on a land area of 64,713 sq ft with a gross plot ratio of 2.5 and gross floor area of 161,782 sq ft. Located within 361m of the MacPherson MRT Station and just one stop from Paya Lebar MRT Interchange Station, it is a prime industrial zone.

Given its desirable location, the CSC has revised the proposed reserve price for the collective sale from $84 million to $98 million. Weston Vision Realty is the sole agent and Tan & Au LLP the lawyer for the sale.

The URA Master Plan has zoned Wintech Centre for B1 industrial use. It is close to Tanjong Katong Complex, Joo Chiat Complex and City Plaza with a total of 104 strata units owned by 84 subsidiary proprietors.

Today, the CSC is actively working on attaining the 80% approval from the majority of owners. Lim is confident that the approval process will be completed soon. With the right infrastructure and prime location, Wintech Centre is set to deliver attractive returns to the investors.