Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is an equity of 35 years remaining on the residential property’s 60-year lease, making it an attractive suggestion compared to other websites with much shorter rent, claims Brenda Ong, executive director and also head of commercial & logistics, Singapore, at Cushman & Wakefield.
The property makes up five levels and also a cellar carpark. It has a gross level location of around 145,366 sq ft. It is a build-to-suit building that was completed in 2000 for its existing anchor lessee, Hitachi Elevator Asia. Besides being the MNC’s regional head office, the commercial property is mostly used as a service base for Hitachi Elevator Asia’s distribution centre, sales, repair and also maintenance workshop.
“A private ownership means that there is no restriction on the rent, which equates into an easier job procedure for the owners, as well as no land lease application for the site,” she adds.
Under the URA Master Plan (2019 ), the site is zoned for B2 industrial use with an acceptable plot ratio of 2.0. Currently, the site has an utilised plot proportion of 1.78.
The property is within walking distance to Jurong East MRT Terminal and also there is a bus stop located simply outside the commercial property.
A B2 industrial building situated at 10 Toh Guan Road East, in the Jurong Lake District, has been offered via expression of interest. Cushman & Wakefield is the sole advertising representative for the sale.
The expression of rate of interest exercise for the building will close on April 29 at 3pm.
