Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – “A private ownership suggests that there is no restriction on the lease contract, which converts into a simpler task process for the proprietors, in addition to no land rent application for the site,” she adds.
A B2 industrial structure located at 10 Toh Guan Road East, in the Jurong Lake District, has actually been put up for sale through expression of interest. Cushman & Wakefield is the single marketing agent for the sale.
Under the URA Master Plan (2019 ), the location is zoned for B2 industrial use with an acceptable plot ratio of 2.0. Presently, the site has a used plot proportion of 1.78.
The commercial property is within strolling distance to Jurong East MRT Station as well as there is a bus stop located simply outside the building.
The building consists of 5 floors as well as a cellar carpark. It has a gross floor location of roughly 145,366 sq ft. It is a build-to-suit building that was completed in 2000 for its current support renter, Hitachi Elevator Asia. Apart from being the MNC’s regional headquarters, the commercial property is mostly made use of as a service base for Hitachi Elevator Asia’s distribution centre, sales, fixing as well as maintenance works.
There is an equity of 35 years remaining on the building’s 60-year contract, making it an eye-catching proposal compared to other websites with much shorter leases, claims Brenda Ong, executive director and head of industrial & logistics, Singapore, at Cushman & Wakefield.
The expression of interest rate exercise for the commercial property will close on April 29 at 3pm.