B1 Industrial Unit at Vertex knocked down for $965,000

1 March 2024

B1 Industrial Unit at Vertex knocked down for $965,000
Photo of Vertex (Source: Huttons Asia)

A B1 industrial unit at Vertex, located at Ubi Avenue 3, was sold at an auction on 28 Feb 2024 for $965,000 by Huttons Asia. This represents a 4.3% premium over its opening price of $925,000 and $65,000 above the last transacted comparable unit.

The sold unit measures 1,744 sq ft and is situated on the mid-floor with ramp-up access.

Completed in 2009, Vertex is a 60-year leasehold property (commencing from January 1, 2007) comprising strata-titled warehouse and clean factory units. The development is conveniently located near Ubi and Tai Seng MRT stations and Macpherson MRT interchange.

“The healthy demand for this unit highlights the continued appeal of 60-year leasehold properties in established industrial estates,” said James Wong, Head of Sales & Auction at Huttons Asia Pte Ltd. “Such properties are well-suited for auction sales, as they allow interested buyers to compete through a transparent bidding process, ultimately reflecting the true market value of the asset.”

“Vertex is a popular industrial building among industrialists and investors. Almost 30 caveats for factory units were lodged with URA since Jan 2023. The auction saw enthusiastic participation and attracted a total of nine bids. The strong interest demonstrates continued demand for well-located industrial units in Singapore,” concludes Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia Pte Ltd.

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For further information, please contact:

James Wong, Head, Sales & Auction, R017407Z
Tel: +65 9113 3113 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)

Geri Ang, Director, Corporate Account, Sales & Auction, R006232H
Tel: +65 8443 0486 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)