Tai Seng Industrial Area Heats Up With New MRT

Tai Seng industrial area hots up with MRT's arrival

 

Property investors are paying close attention to Tai Seng, an industrial area whose appeal has grown markedly since the arrival of an MRT station in 2010.

It is one of the few industrial areas with easy MRT access and the prices of strata factories, for instance, have jumped accordingly.

The area may be familiar to consumers needing to get electronics products serviced as several well- known retailers have set up headquarters there.

An authorised Apple service centre for iPhone repairs is next to Tai Seng MRT station, and laptop maker Asus has a service centre nearby. Musical instrument maker Yamaha has a technical service centre at Tai Seng Drive.

Several home-grown brands also call Tai Seng home, including shoe retailer Charles and Keith, Japanese food chain Sakae Sushi, and DIY store Home-Fix. Bakery chain BreadTalk is building its international headquarters in Paya Lebar iPark, at the doorstep of Tai Seng MRT station.

Analysts said the accessibility of the area and presence of relatively established businesses made the area's outlook promising. Average selling prices for strata factories in Tai Seng have jumped 40 per cent to 70 per cent over the past two years.

The 15ha Paya Lebar iPark, a pilot project by JTC that incorporates green spaces and specially designed buildings into the industrial park, has been the most significant recent development in the area.

Recent projects in the vicinity include Oxley Bizhub and Vertex, which are both on 60-year leases.

Asking rents for spaces in Tai Seng's newer completed developments are $2.50 to $3.50 psf. For the area's older industrial buildings, which house a mix of businesses, rents range from $1 to $1.50 psf.

Source: The Straits Times –24 November 2012