Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is a balance of 35 years remaining on the property’s 60-year lease, making it an eye-catching proposal compared to various other websites with shorter lease contract, claims Brenda Ong, executive director as well as head of industrial & logistics, Singapore, at Cushman & Wakefield.
“A private ownership means that there is no restriction on the lease, which equates into a less complex project procedure for the proprietors, in addition to no land rental fee application for the site,” she adds.
The building comprises five floors and also a cellar carpark. It has a gross level area of roughly 145,366 sq ft. It is a build-to-suit commercial property that was completed in 2000 for its existing support renter, Hitachi Elevator Asia. Besides being the MNC’s regional headquarters, the property is mostly used as a service base for Hitachi Elevator Asia’s circulation centre, sales, fixing and upkeep works.
A B2 industrial building located at 10 Toh Guan Road East, in the Jurong Lake District, has been put up for sale using expression of interest rate. Cushman & Wakefield is the single marketing representative for the sale.
Under the URA Master Plan (2019 ), the site is zoned for B2 commercial use with a permissible 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 Terminal and there is a bus stop located just outside the building.
The expression of interest rate exercise for the residential property will close on April 29 at 3pm.