Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – The property makes up five floors and a basement carpark. It has a gross floor location of about 145,366 sq ft. It is a build-to-suit commercial property that was completed in 2000 for its current anchor tenant, Hitachi Elevator Asia. Other than being the MNC’s local head office, the building is mostly utilized as a solution base for Hitachi Elevator Asia’s distribution centre, sales, repair work and maintenance workshop.
“A private ownership suggests that there is no constraint on the lease, which converts right into a simpler project process for the owners, along with no land rent application for the site,” said Brenda Ong.
Under the URA Master Plan (2019 ), the location is zoned for B2 commercial usage with a permitted plot proportion of 2.0. Presently, the location has a used plot ratio of 1.78.
The building is within walking distance to Jurong East MRT Station and there is a bus stop situated simply outside the commercial property.
A B2 industrial building located at 10 Toh Guan Road East, in the Jurong Lake District, has actually been put up for sale through expression of interest rate. Cushman & Wakefield is the single advertising representative for the sale.
There is a balance of 35 years staying on the residential property’s 60-year lease contract, making it an attractive suggestion compared to other websites with much shorter lease contract, states Brenda Ong, executive director as well as head of industrial & logistics, Singapore, at Cushman & Wakefield.
The expression of interest rate exercise for the property will close on April 29 at 3pm.