Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – Under the URA Master Plan (2019 ), the site is zoned for B2 industrial use with a permissible plot proportion of 2.0. Presently, the site has an utilised plot ratio of 1.78.
The building is within strolling range to Jurong East MRT Station and there is a bus stop situated simply outside the commercial property.
“A private ownership means that there is no limitation on the lease, which converts right into a less complex assignment process for the owners, as well as no land lease application for the website,” she includes.
A B2 commercial building situated at 10 Toh Guan Road East, in the Jurong Lake District, has actually been offered via expression of rate of interest. Cushman & Wakefield is the sole advertising representative for the sale.
The property consists of five floors as well as a basement carpark. It has a gross floor area of around 145,366 sq ft. It is a build-to-suit residential property that was completed in 2000 for its present anchor lessee, Hitachi Elevator Asia. Other than being the MNC’s local head office, the residential property is largely utilized as a service base for Hitachi Elevator Asia’s distribution centre, sales, repair and maintenance works.
There is a balance of 35 years continuing to be on the building’s 60-year rent, making it an appealing recommendation compared to various other sites with much shorter rent, claims Brenda Ong, executive supervisor and also head of industrial & logistics, Singapore, at Cushman & Wakefield.
The expression of rate of interest exercise for the residential property will close on April 29 at 3pm.
