The development comprises a total of 454 units, with unit size ranging from 1,507 sq ft to 36,511 sq ft.
International property consultant, Colliers International will be soft launching North Spring BizHub located at Yishun Industrial Street 1 on May 23, 2011.
Developed by Soilbuild Group Holdings Ltd, North Spring BizHub is a seven-storey light and general industrial development with direct vehicular access to every level, for containers up to 40 ft in length.
With a 60-year leasehold tenure (w.e.f. February 1, 2011), the development comprises a total of 454 units, with unit size ranging from 1,507 sq ft to 36,511 sq ft. Most units have a column-free layout and an expansive floor-to-floor height of up to 7 m, with a loading capacity of between 12.5 kN per sq m and 20 kN per sq m.
The units are suited for business from clean, light and general industries such as research and development, printing and publishing, engineering, warehousing and manufacturing.
Prices for the units start from S$478,000 or approximately S$311 per sq ft. Temporary Occupation Permit is expected in Year 2013.
Mr Tan Boon Leong (陈文龙), Director of Industrial Services, Colliers International, says, “North Spring Bizhub is expected to appeal to both end users and investors. By far, it is only the second ramp-up business development in Singapore catering to 40-foot containers that is available for strata sale; the first one being located in Toh Guan.
Many of the existing strata units developed by private developers could only cater to 20-ft containers, while those that allow 40-ft containers are usually available for lease only. Hence, North Spring Bizhub presents a rare opportunity, particularly for end users, who are looking for own occupation but require facilities that can accommodate large containers of more than 20 ft.”
Mr Tan continues, “Additionally, given growing investors’ interest in strata-titled industrial space, that are supported by strong capital inflows and low interest rates among others, we are optimistic that investors would be enthusiastic to consider North Sping Bizhub as an investment option. The units are expected to enjoy an attractive rental yield of some 7.7 per cent, which is in line with current industrial yields.”
North Spring Bizhub is located close to Yishun MRT station and bus interchange, and enjoys easy access to major expressways – including Central Expressway, Bukit Timah Expressway, Seletar Expressway and Tampines Expressway. The adjacent proposed Admiralty Road East provides direct access to Woodlands Causeway and the future Seletar Aerospace Park. Other major developments in the locality include NorthPoint Shopping Centre and Khoo Teck Phuat Hospital.