In Singapore’s largest private industrial land deal, four single-storey warehouse units at 10, 20, 30 and 40 Tuas South Street 1 changed hands for $322 million under a sale and purchase agreement between Far East Organization and StarNova Capital. The deal was brokered by Colliers’ capital markets & investment services team.
The quartet of assets are zoned Business 2, which designates land for general and heavy industrial activities. With a 2.5 plot ratio, the site spans approximately 1.17 million sq ft with a maximum gross floor area (GFA) of around 2.93 million sq ft.
This is “a rare combination of land area and buildable intensity in the private market”, says Colliers.
The 60-year leasehold portfolio of assets also benefits from a remaining lease term of 30 years since its 1996 lease start, according to the announcement.
This provides “extended runway” and “offers occupiers and investors greater clarity for capital planning, fit‑out amortisation and covenant structuring”, which “strengthens the site’s appeal relative to shorter‑tenure alternatives”, adds Colliers.
Located within the rapidly evolving Tuas district, the site offers immediate strategic advantages from its proximity to the Tuas Biomedical Park and the future Tuas Mega Port, both of which are envisioned to become the world’s largest fully automated container terminals by the 2040s.
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Arterial links to the Ayer Rajah Expressway. Pan Island Expressway and Tuas Second Link further enhance the network efficiency at Singapore’s western gateway to Johor Bahru and Southeast Asia.
Tan Boon Leong, industrial sales lead at Colliers Singapore, says: “As a premier logistics address in Singapore, 10, 20, 30 and 40 Tuas South Street 1 offers a rare opportunity to reposition the asset into a next‑generation facility, creating a compelling value‑creation pathway for investors and occupiers in Singapore’s most in-demand logistics corridor.”
According to Colliers, the buyers plan to redevelop the property into a state‑of‑the‑art, multi-storey ramp‑up logistics facility.
The scale of the site, together with its port adjacency and arterial linkages, provides the foundation for development aimed at consolidating logistics operations and improving velocity across Singapore and the region, adds Colliers.
