Tesla setting up shop at Toa Payoh property, with lease term of up to 20 years

[lonlonlon]

PHOTO: FIRMUS CAPITAL

ELECTRIC car maker Tesla has leased a building in Toa Payoh Lorong 8's industrial area for its showroom, corporate office and service centre.

This was announced on Thursday by private equity real estate investment manager Firmus Capital, which acquired the property and has entered an agreement to lease it entirely to Tesla's Singapore subsidiary, Tesla Motors Singapore Private Limited, for a period of up to 20 years.

The 58,743 sq ft property has a total lettable area of 59,049 sq ft, said Firmus in a statement; its manager noted that Firmus has until now focused its investments in Australia.

The building will house a showroom for Tesla's electric vehicles, a technical support and service centre, as well as Tesla's Singapore corporate office."

The acquisition of the Toa Payoh property was made by a new fund Firmus formed in March this year. Firmus added that it is working on a second purchase within this quarter, and that it will possess S$200 million in assets under management once it completes this second acquisition.

Tesla last indicated it was setting up shop in Singapore when it put up roles for servicing staff, sales advisers and store leaders in July last year, and more recently last September; job postings on LinkedIn were seeking senior developers, among other positions, but it declined to say how many jobs it was opening up in the Republic.

This can probably be seen as the most concrete move Tesla has made towards beginning the sale of its high-end electric vehicles in Singapore, after years of founder Elon Musk complaining about the Republic's authorities being "not supportive".

As for the property in Toa Payoh, Firmus said renovations are underway. It did not say when its lessee would commence operations.

Last month, The Straits Times reported that Tesla would operate out of the facility in Toa Payoh, but that it would additionally have "experience stores" in places such as malls like Raffles City and Jewel Changi Airport, which would allow for test drives to be arranged. It also reported that the centre was slated to start running this month.

Source - The Business Times: https://www.businesstimes.com.sg/technology/tesla-setting-up-shop-at-toa-payoh-lorong-8-property-with-lease-term-of-up-to-20-years

---------

Just curious, what would encourage you guys to buy a Tesla? Currently the prices are like $150K++ for a base Model 3.

Also, looking at google maps i think the previous occupant of this building was Tan Chong Motors (correct me if i'm wrong) - symbolic much? haha

Edited August 10, 2021 by lonlonlon
tag photo

[glennon]

wow, time to ride the electric wave and get a Tesla! Autonomous driving is coming soon. 

[Ash2017]

You see all never prepare before hand, then we have change of rules with every weather change:

Let me get the get the ball rolling so authorities can get the length and breath of all the issues we are expecting so we don't get frustrated with Version 1.0 then 1.1 then 1.2 etc

1. 3/4 tank rule for petrol/diesel vehicles and for electric vehicles - how?

2. are we going get a unified universal charger - that is, all brands can use the charger at various location in SG

3.

 

 

[Kia7200]

Hope by the time I scrap my car, sg will be EV car ready

[Melody288]

21 minutes ago, lonlonlon said:

PHOTO: FIRMUS CAPITAL

ELECTRIC car maker Tesla has leased a building in Toa Payoh Lorong 8's industrial area for its showroom, corporate office and service centre.

This was announced on Thursday by private equity real estate investment manager Firmus Capital, which acquired the property and has entered an agreement to lease it entirely to Tesla's Singapore subsidiary, Tesla Motors Singapore Private Limited, for a period of up to 20 years.

The 58,743 sq ft property has a total lettable area of 59,049 sq ft, said Firmus in a statement; its manager noted that Firmus has until now focused its investments in Australia.

The building will house a showroom for Tesla's electric vehicles, a technical support and service centre, as well as Tesla's Singapore corporate office."

The acquisition of the Toa Payoh property was made by a new fund Firmus formed in March this year. Firmus added that it is working on a second purchase within this quarter, and that it will possess S$200 million in assets under management once it completes this second acquisition.

Tesla last indicated it was setting up shop in Singapore when it put up roles for servicing staff, sales advisers and store leaders in July last year, and more recently last September; job postings on LinkedIn were seeking senior developers, among other positions, but it declined to say how many jobs it was opening up in the Republic.

This can probably be seen as the most concrete move Tesla has made towards beginning the sale of its high-end electric vehicles in Singapore, after years of founder Elon Musk complaining about the Republic's authorities being "not supportive".

As for the property in Toa Payoh, Firmus said renovations are underway. It did not say when its lessee would commence operations.

Last month, The Straits Times reported that Tesla would operate out of the facility in Toa Payoh, but that it would additionally have "experience stores" in places such as malls like Raffles City and Jewel Changi Airport, which would allow for test drives to be arranged. It also reported that the centre was slated to start running this month.

Source - The Business Times: https://www.businesstimes.com.sg/technology/tesla-setting-up-shop-at-toa-payoh-lorong-8-property-with-lease-term-of-up-to-20-years

---------

Just curious, what would encourage you guys to buy a Tesla? Currently the prices are like $150K++ for a base Model 3.

Also, looking at google maps i think the previous occupant of this building was Tan Chong Motors (correct me if i'm wrong) - symbolic much? haha

Currently, only 2 Tesla models on sale - Standard Range+ and Performance. 

The Standard Range+ is selling ard $172k with COE. Performance model should be $40-50k more.

 

[RachelKim]

Road tax now for EV is too crazy. 3.7k to 4.8k annual depends on your tesla Model. If the government wants to encourage the transition should low it much more.

[inlinesix]

9 minutes ago, RachelKim said:

Road tax now for EV is too crazy. 3.7k to 4.8k annual depends on your tesla Model. If the government wants to encourage the transition should low it much more.

For standard range plus, 

2021: $2.4k

2022: $1.9k

If mileage low, confirm petrol + road tax is lower than electric + road tax.

[DOBIEMKZ]

2 hours ago, lonlonlon said:

PHOTO: FIRMUS CAPITAL

ELECTRIC car maker Tesla has leased a building in Toa Payoh Lorong 8's industrial area for its showroom, corporate office and service centre.

This was announced on Thursday by private equity real estate investment manager Firmus Capital, which acquired the property and has entered an agreement to lease it entirely to Tesla's Singapore subsidiary, Tesla Motors Singapore Private Limited, for a period of up to 20 years.

The 58,743 sq ft property has a total lettable area of 59,049 sq ft, said Firmus in a statement; its manager noted that Firmus has until now focused its investments in Australia.

The building will house a showroom for Tesla's electric vehicles, a technical support and service centre, as well as Tesla's Singapore corporate office."

The acquisition of the Toa Payoh property was made by a new fund Firmus formed in March this year. Firmus added that it is working on a second purchase within this quarter, and that it will possess S$200 million in assets under management once it completes this second acquisition.

Tesla last indicated it was setting up shop in Singapore when it put up roles for servicing staff, sales advisers and store leaders in July last year, and more recently last September; job postings on LinkedIn were seeking senior developers, among other positions, but it declined to say how many jobs it was opening up in the Republic.

This can probably be seen as the most concrete move Tesla has made towards beginning the sale of its high-end electric vehicles in Singapore, after years of founder Elon Musk complaining about the Republic's authorities being "not supportive".

As for the property in Toa Payoh, Firmus said renovations are underway. It did not say when its lessee would commence operations.

Last month, The Straits Times reported that Tesla would operate out of the facility in Toa Payoh, but that it would additionally have "experience stores" in places such as malls like Raffles City and Jewel Changi Airport, which would allow for test drives to be arranged. It also reported that the centre was slated to start running this month.

Source - The Business Times: https://www.businesstimes.com.sg/technology/tesla-setting-up-shop-at-toa-payoh-lorong-8-property-with-lease-term-of-up-to-20-years

---------

Just curious, what would encourage you guys to buy a Tesla? Currently the prices are like $150K++ for a base Model 3.

Also, looking at google maps i think the previous occupant of this building was Tan Chong Motors (correct me if i'm wrong) - symbolic much? haha

I think that building used to be Tan Chong Nissan showroom.
 

[DOBIEMKZ]

20 minutes ago, RachelKim said:

Road tax now for EV is too crazy. 3.7k to 4.8k annual depends on your tesla Model. If the government wants to encourage the transition should low it much more.

I think our govt is currently lukewarm towards full EVs.

Our govt earns a lot from fuel tax.

So got to tax EV high road tax to match up the lost in fuel tax for such vehs.

Also when govt invited those oil companies to set up in Singapore decades ago, they were promised something like a century of profits for their operations here.

They wouldn't want to jeopardise this current delicate situation and arrangement.

[DOBIEMKZ]

2 hours ago, lonlonlon said:

PHOTO: FIRMUS CAPITAL

ELECTRIC car maker Tesla has leased a building in Toa Payoh Lorong 8's industrial area for its showroom, corporate office and service centre.

This was announced on Thursday by private equity real estate investment manager Firmus Capital, which acquired the property and has entered an agreement to lease it entirely to Tesla's Singapore subsidiary, Tesla Motors Singapore Private Limited, for a period of up to 20 years.

The 58,743 sq ft property has a total lettable area of 59,049 sq ft, said Firmus in a statement; its manager noted that Firmus has until now focused its investments in Australia.

The building will house a showroom for Tesla's electric vehicles, a technical support and service centre, as well as Tesla's Singapore corporate office."

The acquisition of the Toa Payoh property was made by a new fund Firmus formed in March this year. Firmus added that it is working on a second purchase within this quarter, and that it will possess S$200 million in assets under management once it completes this second acquisition.

Tesla last indicated it was setting up shop in Singapore when it put up roles for servicing staff, sales advisers and store leaders in July last year, and more recently last September; job postings on LinkedIn were seeking senior developers, among other positions, but it declined to say how many jobs it was opening up in the Republic.

This can probably be seen as the most concrete move Tesla has made towards beginning the sale of its high-end electric vehicles in Singapore, after years of founder Elon Musk complaining about the Republic's authorities being "not supportive".

As for the property in Toa Payoh, Firmus said renovations are underway. It did not say when its lessee would commence operations.

Last month, The Straits Times reported that Tesla would operate out of the facility in Toa Payoh, but that it would additionally have "experience stores" in places such as malls like Raffles City and Jewel Changi Airport, which would allow for test drives to be arranged. It also reported that the centre was slated to start running this month.

Source - The Business Times: https://www.businesstimes.com.sg/technology/tesla-setting-up-shop-at-toa-payoh-lorong-8-property-with-lease-term-of-up-to-20-years

---------

Just curious, what would encourage you guys to buy a Tesla? Currently the prices are like $150K++ for a base Model 3.

Also, looking at google maps i think the previous occupant of this building was Tan Chong Motors (correct me if i'm wrong) - symbolic much? haha

Yes, Tan Chong Motor Nissan used to be there.

And before TC Nissan, i think it was Fiat.

[BanCoe]

24 minutes ago, DOBIEMKZ said:

Yes, Tan Chong Motor Nissan used to be there.

And before TC Nissan, i think it was Fiat.

If Im not wrong it was also for Renault and further up was Subaru.... I could be wrong though ... there was also a big Toyogo plastic wares shop quite near to it too

[inlinesix]

5 minutes ago, BanCoe said:

If Im not wrong it was also for Renault and further up was Subaru.... I could be wrong though ... there was also a big Toyogo plastic wares shop quite near to it too

Toyogo is still there.

[Longhorn]

1 hour ago, inlinesix said:

For standard range plus, 

2021: $2.4k

2022: $1.9k

If mileage low, confirm petrol + road tax is lower than electric + road tax.

@inlinesix I recall a similar discussion in another thread. May I know what power output have you assumed in this  calculation of road tax?

[inlinesix]

17 minutes ago, Longhorn said:

@inlinesix I recall a similar discussion in another thread. May I know what power output have you assumed in this  calculation of road tax?

211kw

[shrjun]

2 hours ago, RachelKim said:

Road tax now for EV is too crazy. 3.7k to 4.8k annual depends on your tesla Model. If the government wants to encourage the transition should low it much more.

The cars make dollops of power which isn't plucked out of thin air..why should the tax be less just bcoz they have 0 cylinders 😄

[13177]

1 hour ago, inlinesix said:

Toyogo is still there.

Toyogo still there? Thought the shop no more liao?

Edited July 29, 2021 by 13177

[Longhorn]

@inlinesix ahh this explains the difference with my calculation. I used 239 kwh which is quoted in SGCM.

Edited July 29, 2021 by Longhorn

[13177]

1 hour ago, DOBIEMKZ said:

Yes, Tan Chong Motor Nissan used to be there.

And before TC Nissan, i think it was Fiat.

No more tan chong motor there liao? Even the service centre also no more?