Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is a balance of 35 years staying on the residential property’s 60-year lease contract, making it an appealing proposition compared to various other sites with much shorter lease contract, states Brenda Ong, executive supervisor as well as head of commercial & logistics, Singapore, at Cushman & Wakefield.
“A private ownership suggests that there is no constraint on the rent, which equates right into a simpler task procedure for the owners, as well as no land rent application for the site,” she includes.
A B2 commercial building situated at 10 Toh Guan Road East, in the Jurong Lake District, has actually been put up for sale via expression of rate of interest. Cushman & Wakefield is the sole marketing representative for the sale.
Under the URA Master Plan (2019 ), the site is zoned for B2 commercial usage with a permissible plot ratio of 2.0. Currently, the site has a used plot proportion of 1.78.
The commercial property is within walking distance to Jurong East MRT Terminal and there is a bus stop located just outside the residential property.
The commercial property consists of 5 levels and 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 support renter, Hitachi Elevator Asia. Apart from being the MNC’s regional headquarters, the building is mostly utilized as a service base for Hitachi Elevator Asia’s circulation centre, sales, repair and also maintenance works.
The expression of interest exercise for the property will close on April 29 at 3pm.
