Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – Under the URA Master Plan (2019 ), the site is zoned for B2 commercial usage with an allowable plot ratio of 2.0. Currently, the location has a used plot ratio of 1.78.
The property is within strolling distance to Jurong East MRT Station as well as there is a bus stop situated just outside the commercial property.
The commercial property consists of five levels as well as a basement carpark. It has a gross level area of around 145,366 sq ft. It is a build-to-suit residential property that was finished in 2000 for its existing anchor occupant, Hitachi Elevator Asia. Other than being the MNC’s local headquarters, the property is primarily used as a solution base for Hitachi Elevator Asia’s circulation centre, sales, repair as well as maintenance sessions.
There is an equity of 35 years continuing to be on the commercial property’s 60-year contract, making it an appealing recommendation compared to other sites with shorter lease contract, says Brenda Ong, executive director and head of commercial & logistics, Singapore, at Cushman & Wakefield.
A B2 commercial structure situated at 10 Toh Guan Road East, in the Jurong Lake District, has been put up for sale through expression of rate of interest. Cushman & Wakefield is the sole advertising agent for the sale.
“A private ownership implies that there is no restriction on the rent, which translates right into a less complex job process for the proprietors, in addition to no land lease application for the site,” she includes.
The expression of interest exercise for the residential property will close on April 29 at 3pm.