Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – Under the URA Master Plan (2019 ), the site is zoned for B2 industrial usage with an acceptable plot proportion of 2.0. Currently, the site has an utilised plot proportion of 1.78.
The residential property is within walking range to Jurong East MRT Station and also there is a bus stop located just outside the commercial property.
There is an equity of 35 years staying on the residential property’s 60-year lease, making it an attractive suggestion compared to other websites with shorter lease contract, says Brenda Ong, executive supervisor and head of industrial & logistics, Singapore, at Cushman & Wakefield.
“A private ownership suggests that there is no constraint on the lease contract, which equates right into an easier assignment process for the owners, as well as no land rent application for the website,” she includes.
The property makes up 5 levels as well as a basement carpark. It has a gross floor location of approximately 145,366 sq ft. It is a build-to-suit residential property that was completed in 2000 for its current anchor tenant, Hitachi Elevator Asia. Other than being the MNC’s regional headquarters, the residential property is primarily made use of as a service base for Hitachi Elevator Asia’s circulation centre, sales, repair work and also upkeep sessions.
A B2 commercial building located at 10 Toh Guan Road East, in the Jurong Lake District, has actually been offered through expression of interest. Cushman & Wakefield is the single advertising representative for the sale.
The expression of rate of interest exercise for the residential property will close on April 29 at 3pm.