Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – Under the URA Master Plan (2019 ), the location is zoned for B2 commercial usage with a permissible plot ratio of 2.0. Presently, the location has an utilised plot proportion of 1.78.
The commercial property is within strolling distance to Jurong East MRT Terminal and there is a bus stop located simply outside the property.
“A private ownership suggests that there is no limitation on the lease contract, which equates into an easier assignment process for the proprietors, as well as no land rental fee application for the website,” she adds.
A B2 commercial building situated at 10 Toh Guan Road East, in the Jurong Lake District, has been offered via expression of rate of interest. Cushman & Wakefield is the single advertising and marketing agent for the sale.
The building comprises 5 levels as well as a cellar carpark. It has a gross floor area of around 145,366 sq ft. It is a build-to-suit building that was completed in 2000 for its current anchor tenant, Hitachi Elevator Asia. Apart from being the MNC’s local head office, the property is primarily made use of as a solution base for Hitachi Elevator Asia’s circulation centre, sales, repair work and maintenance works.
There is an equity of 35 years staying on the residential property’s 60-year contract, making it an eye-catching recommendation compared to various other websites with much shorter leases, claims Brenda Ong, executive director and also head of industrial & logistics, Singapore, at Cushman & Wakefield.
The expression of interest rate exercise for the residential property will close on April 29 at 3pm.