Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – “A private ownership means that there is no limitation on the lease contract, which converts into a simpler task process for the proprietors, along with no land rental fee application for the site,” she includes.
A B2 industrial building situated at 10 Toh Guan Road East, in the Jurong Lake District, has actually been offered via expression of interest. Cushman & Wakefield is the sole advertising and marketing representative for the sale.
Under the URA Master Plan (2019 ), the location is zoned for B2 industrial usage with an allowable plot proportion of 2.0. Presently, the site has an utilised plot ratio of 1.78.
The commercial property is within strolling range to Jurong East MRT Terminal and there is a bus stop located simply outside the residential property.
The building comprises five floors and also a basement carpark. It has a gross level area of around 145,366 sq ft. It is a build-to-suit building that was finished in 2000 for its existing anchor tenant, Hitachi Elevator Asia. Other than being the MNC’s regional head office, the building is largely used as a service base for Hitachi Elevator Asia’s distribution centre, sales, fixing as well as maintenance workshop.
There is an equity of 35 years continuing to be on the property’s 60-year rent, making it an eye-catching proposition compared to various other websites with shorter leases, says Brenda Ong, executive supervisor and head of industrial & logistics, Singapore, at Cushman & Wakefield.
The expression of rate of interest exercise for the property will close on April 29 at 3pm.