Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – There is a balance of 35 years continuing to be on the residential property’s 60-year rent, making it an attractive suggestion compared to various other websites with shorter lease contract, says Brenda Ong, executive director and head of commercial & logistics, Singapore, at Cushman & Wakefield.
The property consists of five levels and also a basement carpark. It has a gross level area of roughly 145,366 sq ft. It is a build-to-suit commercial property that was finished in 2000 for its current anchor lessee, Hitachi Elevator Asia. Other than being the MNC’s regional head office, the building is primarily used as a service base for Hitachi Elevator Asia’s circulation centre, sales, repair work as well as upkeep works.
A B2 commercial structure situated at 10 Toh Guan Road East, in the Jurong Lake District, has actually been offered via expression of interest rate. Cushman & Wakefield is the sole advertising representative for the sale.
Under the URA Master Plan (2019 ), the location is zoned for B2 industrial usage with a permissible plot ratio of 2.0. Presently, the site has a used plot proportion of 1.78.
The commercial property is within walking range to Jurong East MRT Terminal as well as there is a bus stop situated simply outside the building.
“A private ownership indicates that there is no restriction on the rent, which converts into a simpler project procedure for the proprietors, along with no land rent application for the site,” she adds.
The expression of interest rate exercise for the residential property will close on April 29 at 3pm.