Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is a balance of 35 years remaining on the residential property’s 60-year rent, making it an attractive suggestion compared to various other sites with shorter lease contract, states Brenda Ong, executive director as well as head of industrial & logistics, Singapore, at Cushman & Wakefield.
A B2 industrial building located at 10 Toh Guan Road East, in the Jurong Lake District, has actually been put up for sale using expression of interest rate. Cushman & Wakefield is the single advertising and marketing agent for the sale.
The residential property consists of 5 levels and a basement carpark. It has a gross level area of around 145,366 sq ft. It is a build-to-suit commercial property that was finished in 2000 for its current anchor renter, Hitachi Elevator Asia. Apart from being the MNC’s local headquarters, the residential property is primarily used as a solution base for Hitachi Elevator Asia’s circulation centre, sales, repair service and also upkeep sessions.
“A private ownership means that there is no restriction on the contract, which equates right into an easier assignment process for the owners, along with no land lease application for the site,” she adds.
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 property is within strolling distance to Jurong East MRT Station as well as there is a bus stop located just outside the residential property.
The expression of rate of interest exercise for the residential property will close on April 29 at 3pm.