Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – “A private ownership suggests that there is no restriction on the rent, which equates right into a less complex assignment procedure for the owners, in addition to no land rent application for the site,” she adds.
There is an equity of 35 years continuing to be on the building’s 60-year contract, making it an appealing proposal contrasted to various other sites with shorter leases, says Brenda Ong, executive supervisor and also head of industrial & logistics, Singapore, at Cushman & Wakefield.
Under the URA Master Plan (2019 ), the location is zoned for B2 commercial use with an acceptable plot ratio of 2.0. Presently, the location has a used plot ratio of 1.78.
The property is within strolling distance to Jurong East MRT Station as well as there is a bus stop situated just outside the property.
A B2 industrial structure located at 10 Toh Guan Road East, in the Jurong Lake District, has been offered through expression of interest. Cushman & Wakefield is the single marketing agent for the sale.
The building makes up five floors and also a basement carpark. It has a gross floor location of about 145,366 sq ft. It is a build-to-suit commercial property that was completed in 2000 for its current support occupant, Hitachi Elevator Asia. Other than being the MNC’s local head office, the property is largely used as a service base for Hitachi Elevator Asia’s circulation centre, sales, fixing and also upkeep works.
The expression of rate of interest exercise for the property will close on April 29 at 3pm.