Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is an equity of 35 years continuing to be on the building’s 60-year lease, making it an eye-catching recommendation compared to other sites with much shorter rent, claims Brenda Ong, executive supervisor and head of commercial & logistics, Singapore, at Cushman & Wakefield.
“A private ownership suggests that there is no limitation on the lease, which equates into an easier task procedure for the owners, in addition to no land lease application for the site,” she adds.
Under the URA Master Plan (2019 ), the site is zoned for B2 industrial usage with an acceptable plot ratio of 2.0. Presently, the location has an utilised plot proportion of 1.78.
The commercial property is within strolling range to Jurong East MRT Terminal and there is a bus stop situated just outside the commercial property.
The commercial property comprises five levels as well as a cellar carpark. It has a gross level area of about 145,366 sq ft. It is a build-to-suit residential property that was finished in 2000 for its existing anchor lessee, Hitachi Elevator Asia. Besides being the MNC’s regional headquarters, the building is mostly made use of as a service base for Hitachi Elevator Asia’s distribution centre, sales, repair and also maintenance works.
A B2 commercial structure located at 10 Toh Guan Road East, in the Jurong Lake District, has been put up for sale through expression of interest rate. Cushman & Wakefield is the sole advertising and marketing representative for the sale.
The expression of rate of interest exercise for the commercial property will close on April 29 at 3pm.
