Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is an equity of 35 years remaining on the commercial property’s 60-year rent, making it an eye-catching proposition compared to various other sites with shorter contract, claims Brenda Ong, executive director and head of commercial & logistics, Singapore, at Cushman & Wakefield.
Under the URA Master Plan (2019 ), the site is zoned for B2 commercial usage with a permissible plot ratio of 2.0. Currently, the location has an utilised plot ratio of 1.78.
The building is within walking distance to Jurong East MRT Terminal and also there is a bus stop situated simply outside the property.
The commercial property comprises 5 floors as well as a cellar carpark. It has a gross floor location of around 145,366 sq ft. It is a build-to-suit building that was completed in 2000 for its current anchor renter, Hitachi Elevator Asia. Besides being the MNC’s local head office, the residential property is largely used as a service base for Hitachi Elevator Asia’s distribution centre, sales, repair as well as upkeep workshop.
“A private ownership means that there is no restriction on the rent, which translates right into a less complex assignment process for the proprietors, as well as no land rental fee application for the website,” she adds.
A B2 industrial building located at 10 Toh Guan Road East, in the Jurong Lake District, has been offered using expression of interest rate. Cushman & Wakefield is the single advertising agent for the sale.
The expression of interest exercise for the commercial property will close on April 29 at 3pm.