Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – A B2 industrial building situated at 10 Toh Guan Road East, in the Jurong Lake District, has been offered using expression of interest rate. Cushman & Wakefield is the single advertising and marketing representative for the sale.
Under the URA Master Plan (2019 ), the location is zoned for B2 industrial usage with a permitted plot ratio of 2.0. Presently, the site has a used plot proportion of 1.78.
The commercial property is within strolling range to Jurong East MRT Station and also there is a bus stop located just outside the property.
The building makes up five floors as well as a basement carpark. It has a gross level location of about 145,366 sq ft. It is a build-to-suit building that was completed in 2000 for its present anchor lessee, Hitachi Elevator Asia. Besides being the MNC’s regional head office, the property is primarily made use of as a service base for Hitachi Elevator Asia’s distribution centre, sales, repair and upkeep sessions.
“A private ownership means that there is no restriction on the rent, which translates into an easier assignment process for the owners, as well as no land rental fee application for the website,” she includes.
There is an equity of 35 years remaining on the property’s 60-year lease contract, making it an attractive proposal compared to various other sites with much shorter leases, says Brenda Ong, executive director and head of commercial & logistics, Singapore, at Cushman & Wakefield.
The expression of rate of interest exercise for the property will close on April 29 at 3pm.