Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is an equity of 35 years staying on the building’s 60-year lease contract, making it an attractive recommendation compared to other websites with much shorter lease contract, says Brenda Ong, executive director and also head of industrial & logistics, Singapore, at Cushman & Wakefield.
A B2 commercial structure situated at 10 Toh Guan Road East, in the Jurong Lake District, has actually been put up for sale through expression of interest rate. Cushman & Wakefield is the sole marketing representative for the sale.
“A private ownership indicates that there is no restriction on the rent, which converts right into a less complex job process for the owners, as well as no land lease application for the site,” she includes.
The building comprises 5 levels and a cellar carpark. It has a gross level area of approximately 145,366 sq ft. It is a build-to-suit property that was finished in 2000 for its current support tenant, Hitachi Elevator Asia. Other than being the MNC’s local head office, the residential property is largely used as a solution base for Hitachi Elevator Asia’s circulation centre, sales, fixing as well as upkeep works.
Under the URA Master Plan (2019 ), the site is zoned for B2 commercial use with an allowable plot proportion of 2.0. Presently, the location has a used plot ratio of 1.78.
The building is within strolling range to Jurong East MRT Station and there is a bus stop located simply outside the residential property.
The expression of interest exercise for the building will certainly close on April 29 at 3pm.