Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – The property consists of 5 floors as well as a basement carpark. It has a gross floor area of roughly 145,366 sq ft. It is a build-to-suit building that was finished in 2000 for its current support renter, Hitachi Elevator Asia. Besides being the MNC’s regional head office, the commercial property is mainly used as a solution base for Hitachi Elevator Asia’s circulation centre, sales, repair service as well as maintenance works.
There is a balance of 35 years continuing to be on the residential property’s 60-year lease, making it an attractive suggestion compared to various other sites with much shorter leases, claims Brenda Ong, executive director and also 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 actually been offered via expression of interest. Cushman & Wakefield is the sole marketing agent 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. Currently, the location has a used plot ratio of 1.78.
The building is within strolling range to Jurong East MRT Station as well as there is a bus stop located simply outside the residential property.
“A private ownership implies that there is no constraint on the rent, which converts right into a simpler task procedure for the owners, along with no land rent application for the website,” she adds.
The expression of interest rate exercise for the commercial property will certainly close on April 29 at 3pm.