The Usual 60 / 40
However, most recently there are new industrial spaces located in the Northern region of Singapore which allows suitable and qualified industrial users to use a minimum of 30% for industrial usage while the remaining 70% may be used for ancillary usage. This means that qualified businesses are able to use up to 70% of the space for ancillary use with a minimum of 30% usage for industrial purposes.
New Concept of Flexible Industrial Spaces
As modern day businesses are evolving ever so rapidly, this unique concept which allows for more flexible use of industrial space are suitable for tenants who generally require a smaller space for industrial use and a larger space for ancillary uses such as ancillary office space use.
Such Industrial Spaces Only for Lease
However, you may note that such industrial spaces are mainly for lease and not for sale at least as of the present moment. Also, the type and nature of business of the tenant is important as not all trades or businesses are able to take up the lease for such industrial spaces due to the limitations already set out.
Company Documentations Required for Assessment
Also, in order to first apply to be a tenant, some company documentations such as nature of business, description of company’s operations and company statements will be required for assessment on the suitability to take up the lease at such industrial spaces.
Rental Rates Tend to Reflect A Premium
Due to the more flexible usage of such industrial spaces, the rental rates also tend to reflect a premium over regular industrial spaces due to the permissible use of at least 30% for industrial usage and up to 70% for ancillary usage such as ancillary office.
It would be fair to the tenants as the allowable usage for ancillary use is up to 70%, with a minimum of 30% for industrial usage.
Also, the rental rates for such spaces are usually non-negotiable and there is usually a minimum lease term of at least 3 years lease period for tenants.
After all, if your company has already decided or budgeted to spend renovation or fitting-out dollars on the industrial space, it would usually make business sense to go for a long term leases since reinstatement is usually necessary at the end of industrial leases.
Located in Northern Region of Singapore
If you are a potential tenant in clean trades or businesses such as semiconductor, Research & Development (R & D) or biotechnology trades or other related clean trades etc. and if your company is presently looking out for a suitable industrial space for rent, you may want to contact us today to explore on the possibilities of being in such industrial spaces if your corporate budget or company price range allows. Ideally when you contact us, you should provide the company name & some details so that we will be able to assist with your enquiry more effectively.
After all, such industrial spaces tend to be cleaner, more modern in terms of architecture and also offers a much better corporate image for your company, possibly making it easier to strike potential deals with future customers or hire potential candidates to fulfil your growing business needs.