Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – The property consists of five levels and also a cellar carpark. It has a gross floor area of roughly 145,366 sq ft. It is a build-to-suit building that was completed in 2000 for its existing support lessee, 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 circulation centre, sales, fixing as well as upkeep workshop.
A B2 industrial structure located at 10 Toh Guan Road East, in the Jurong Lake District, has been put up for sale via expression of interest. Cushman & Wakefield is the single advertising representative for the sale.
There is a balance of 35 years remaining on the residential property’s 60-year lease contract, making it an attractive suggestion contrasted to various other sites with shorter contract, claims Brenda Ong, executive director as well as head of commercial & logistics, Singapore, at Cushman & Wakefield.
Under the URA Master Plan (2019 ), the location is zoned for B2 commercial usage with an acceptable plot ratio of 2.0. Currently, the site has a used plot proportion of 1.78.
The building is within strolling range to Jurong East MRT Terminal and there is a bus stop situated simply outside the residential property.
“A private ownership indicates that there is no restriction on the lease, which equates into a less complex project procedure for the owners, in addition to no land rental fee application for the site,” she adds.
The expression of interest rate exercise for the commercial property will close on April 29 at 3pm.
