Wintech Centre, a strata-titled light industrial building at 6 Ubi Road 1, is now in the process of being launched for en bloc sale. The Collective Sale Committee (CSC) appointed in August 2021 tasked themselves with the job of obtaining consent from the majority of the 84 owners. Chairman of the CSC, Ken Lim, believes the 80% approval they need is just around the corner. The reserve price set previously of $84 million has been revised to $98 million.
An opportune time to launch the sale is coming off the back of the recent cooling measures instituted in December. Lim said there is already an increased demand for industrial properties, “We’ve had some enquiries from certain investors, including a REIT fund.”
The initial optimism for the sale was further supported by the January sale of J’Forte Building which went for $98.8 million. Located less than a 10-minute drive from Wintech Centre, the sale was brokered by Knight Frank.
Under the URA Master Plan, the building is zoned for B1 industrial use with an approved gross plot ratio of 2.5. The property sits on a land area of 64,713 sq ft and boasts a total of 104 strata units.
The building enjoys a prime location, located within 361m of the MacPherson MRT Station and just one stop away from Paya Lebar MRT Interchange Station. It is located close to Tanjong Katong Complex, Joo Chiat Complex and City Plaza.
Weston Vision Realty is the sole marketing agent for the collective sale, and Tan & Au LLP is representing the lawyer. Currently, talks are taking place with investors to make a final sale.
J’den Condo is a 40-storey residential J’Den Condo and commercial development located near the Jurong East MRT Station and adjacent to the upcoming Jurong East Integrated Transport Hub. It will offer residential units priced up to S$2,100 psf and is expected to be completed by 2027.
Given the current market, the owners of Wintech Centre are fortunate to have the potential opportunity of en bloc sale to take advantage of. With the property’s convenient location and the numerous other nearby amenities, it is expected to draw a lot of interest.
