Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is a balance of 35 years remaining on the building’s 60-year lease contract, making it an eye-catching recommendation compared to various other websites with much shorter lease contract, states Brenda Ong, executive director and head of commercial & logistics, Singapore, at Cushman & Wakefield.
“A private ownership implies that there is no restriction on the lease, which converts into a simpler task process for the owners, as well as no land rental fee application for the site,” she adds.
Under the URA Master Plan (2019 ), the location is zoned for B2 commercial usage with an acceptable plot proportion of 2.0. Currently, the location has a used plot proportion of 1.78.
The commercial property is within strolling range to Jurong East MRT Station as well as there is a bus stop situated simply outside the residential property.
A B2 commercial structure situated at 10 Toh Guan Road East, in the Jurong Lake District, has been offered through expression of rate of interest. Cushman & Wakefield is the single advertising and marketing representative for the sale.
The residential property comprises five levels and a cellar carpark. It has a gross floor location of around 145,366 sq ft. It is a build-to-suit building that was completed in 2000 for its existing anchor occupant, Hitachi Elevator Asia. Apart from being the MNC’s regional head office, the property is largely used as a service base for Hitachi Elevator Asia’s distribution centre, sales, repair work as well as upkeep workshop.
The expression of rate of interest exercise for the building will close on April 29 at 3pm.