Singapore’s industrial property market is drawing attention with two factory portfolios at Hillview Terrace in Bukit Batok being offered for sale at a combined price of approximately $85.2 million.
According to an EdgeProp report published on October 27, 2026, seven 999-year leasehold terrace factories have been launched for sale by public tender at a guide price of $51.6 million. Separately, four freehold semi-detached factories are available through a private treaty sale at an asking price of $33.63 million.
Together, the two portfolios cover approximately 50,980 sq ft of land. Beyond their existing industrial use, their underlying residential zoning introduces potential redevelopment considerations for investors and developers, subject to the relevant planning approvals.
The listings highlight how location, tenure, existing use, and redevelopment possibilities can influence the appeal of industrial properties in Singapore.
Seven 999-Year Leasehold Factories Offered for $51.6 Million
The first portfolio comprises seven adjoining terrace factories at 36A, 36B, 38, 38A, 38B, 38C, and 38D Hillview Terrace.
The properties have a combined land area of approximately 31,199 sq ft and a guide price of $51.6 million. Based on the land area, the price works out to approximately $1,655 per sq ft.
The factories have 999-year leasehold tenure and are currently approved for general industrial use. Although the sites are zoned for residential use under the Urban Redevelopment Authority’s Master Plan, their existing industrial approval allows buyers to consider continuing their current use.
This flexibility may appeal to different buyer groups, including industrial owner-occupiers, investors, and developers evaluating longer-term opportunities.
The properties are being marketed through a public tender, which is scheduled to close at 3pm on December 1, 2026.
Four Freehold Factories Available for $33.63 Million
A second portfolio at Hillview Terrace offers another opportunity for buyers interested in industrial real estate.
The group comprises four freehold semi-detached factories at 31, 33, 35, and 35 Annex Hillview Terrace.
These properties occupy a combined land area of approximately 19,781 sq ft and have an asking price of $33.63 million. The sale is being conducted through a private treaty arrangement.
Like the seven-factory portfolio, these properties are situated on land zoned for residential use under the URA Master Plan, with a gross plot ratio of 1.62.
The residential zoning could provide scope to explore redevelopment, subject to applicable planning requirements and approvals.
For buyers comparing the two portfolios, the difference in tenure is an important consideration. The seven terrace factories offer 999-year leasehold tenure, while the second group consists of freehold properties.
Each option may suit different investment strategies, depending on the buyer’s budget, intended use, investment horizon, and development objectives.
Could Hillview Terrace Become a Residential Redevelopment Opportunity?
One of the notable features of the Hillview Terrace factory listings is the potential to explore residential redevelopment.
Although the properties are approved for general industrial use, their underlying residential zoning may offer an alternative long-term strategy for eligible buyers.
According to the marketing information cited in the EdgeProp report, an additional plot ratio of 0.30 may be available for residential redevelopment, potentially increasing the maximum plot ratio from 1.62 to 1.92.
However, this additional plot ratio is not automatic. Any redevelopment proposal would need to satisfy the relevant planning requirements and obtain the necessary approvals.
Investors should therefore distinguish between a property’s current permitted use and its potential future development options.
Before making an acquisition, prospective buyers should assess planning conditions, redevelopment feasibility, construction costs, financing requirements, and the financial viability of their proposed use.
The ability to retain existing industrial operations while evaluating possible future redevelopment may be attractive to buyers seeking flexibility. Nevertheless, the actual value of that flexibility depends on the property’s specific planning conditions and market circumstances.
What the $85.2 Million Combined Offering Means for Investors
With a combined land area of approximately 50,980 sq ft, the two Hillview Terrace portfolios present a substantial acquisition opportunity in Singapore’s industrial property market.
The total asking and guide prices amount to approximately $85.23 million.
However, the two portfolios are being marketed separately. The combined figure represents their aggregate advertised prices, not a single transaction price or evidence that a buyer intends to acquire both sites.
For investors and developers, several factors deserve closer examination.
1. Property Tenure
Tenure is an important consideration when evaluating industrial property in Singapore.
The seven terrace factories carry 999-year leasehold tenure, while the four semi-detached factories are freehold.
Buyers should consider how tenure aligns with their intended holding period, financing arrangements, future exit strategy, and long-term asset objectives.
2. Existing Industrial Use
Both portfolios are approved for general industrial use, providing a basis for buyers to evaluate their suitability for continued industrial operations.
Businesses considering owner-occupation should assess access, building specifications, operational requirements, and the suitability of the properties for their intended activities.
Investors should also investigate potential leasing demand and the costs associated with maintaining and operating the properties.
3. Redevelopment Potential
The residential zoning may create additional possibilities for developers, but it should not be interpreted as guaranteed permission to redevelop the properties into residential units.
A thorough assessment should consider the applicable planning framework, plot ratio, site configuration, redevelopment costs, and approval conditions.
4. Acquisition and Holding Costs
The advertised prices are only one part of the investment calculation.
Prospective buyers should account for acquisition expenses, financing costs, applicable taxes and duties, maintenance, property management, and any costs associated with future redevelopment.
A detailed financial assessment can help determine whether an opportunity is suitable for the buyer’s objectives and risk tolerance.
Recent Factory Transactions Provide Additional Market Context
Recent transactions at Hillview Terrace offer another reference point for buyers assessing the asking prices.
The EdgeProp report notes that a 999-year factory with a land area of approximately 5,672 sq ft was sold for $8.5 million, equivalent to about $1,499 per sq ft of land.
Earlier transactions in April included a factory occupying approximately 6,836 sq ft of land that sold for $9.3 million, or around $1,360 per sq ft. Another factory with a land area of approximately 4,150 sq ft changed hands for $5.8 million, equivalent to about $1,398 per sq ft.
These transactions provide useful reference points, but they should not be treated as direct valuations of the current portfolios.
Differences in tenure, site size, building condition, location, permitted use, and redevelopment potential can influence pricing.
Buyers should compare properties with similar characteristics and review the relevant transaction details before deciding whether an asking price represents value.
What Buyers Should Evaluate Before Investing in Industrial Property
Singapore industrial property can serve different purposes, from supporting business operations to generating rental income or pursuing longer-term asset strategies.
However, not every property will suit every investor. Before committing to a purchase, buyers should consider the following:
Define the investment objective. Determine whether the property is intended for owner-occupation, rental income, long-term holding, or potential redevelopment.
Review the planning conditions. Confirm the approved use, applicable zoning, plot ratio, and any restrictions affecting the proposed activity.
Assess the financial commitments. Evaluate the purchase price alongside financing, applicable taxes and duties, maintenance, and other ownership expenses.
Understand the market. Review comparable transactions, potential tenant demand, accessibility, and the characteristics of the surrounding industrial estate.
Evaluate the risks. Consider leasing uncertainty, changes in operating costs, financing exposure, market conditions, and the possibility that redevelopment proposals may not receive approval.
A structured evaluation can help buyers distinguish between an attractive headline price and an investment that genuinely suits their requirements.
Frequently Asked Questions
Where are the factories being offered for sale?
The two portfolios are located at Hillview Terrace in Bukit Batok, Singapore. The first comprises seven adjoining 999-year leasehold terrace factories, while the second consists of four freehold semi-detached factories.
What are the asking prices for the Hillview Terrace factories?
The seven-factory portfolio has a guide price of $51.6 million. The four freehold factories are being offered at an asking price of $33.63 million. Together, their advertised prices total approximately $85.23 million.
Can the Hillview Terrace factories be redeveloped into residential properties?
The sites are zoned for residential use under the URA Master Plan, but they are currently approved for general industrial use. Residential redevelopment would be subject to the applicable planning requirements and approvals. Buyers should not assume that residential conversion is guaranteed.
What is the difference between 999-year leasehold and freehold industrial property?
Freehold property has no fixed lease expiry, while 999-year leasehold property has a very long lease term. The two tenures may have different implications for valuation, financing, holding strategies, and buyer preferences.
What should investors check before purchasing a factory in Singapore?
Investors should examine tenure, permitted use, location, building condition, comparable transactions, acquisition costs, financing, leasing prospects, and potential redevelopment restrictions. Professional advice may also be appropriate when assessing planning or transaction-related matters.
Explore Singapore Property Opportunities with HaoHaoGuo Realty
The Hillview Terrace listings illustrate how industrial property can offer different possibilities depending on a buyer’s objectives, from continued business use to investment and potential redevelopment.
However, making a sound property decision requires more than comparing asking prices. Buyers need to understand the property’s characteristics, assess the financial commitments, and evaluate the risks and opportunities within the wider Singapore property market.
Looking to explore property investment opportunities in Singapore? Connect with HaoHaoGuo Realty for guidance on evaluating suitable properties and understanding your next steps.
Whether you are considering industrial property, exploring residential investments, or planning your next property move, HaoHaoGuo Realty can help you approach your options with a clearer understanding of your goals and priorities.
