Industrial building at 10 Toh Guan Road East up for sale
SINGAPORE (EDGEPROP) – The property comprises 5 floors and also a basement carpark. It has a gross level location of about 145,366 sq ft. It is a build-to-suit property that was finished in 2000 for its current support renter, Hitachi Elevator Asia. Apart from being the MNC’s regional headquarters, the property is largely used as a solution base for Hitachi Elevator Asia’s distribution centre, sales, repair and also upkeep sessions.
There is an equity of 35 years continuing to be on the property’s 60-year contract, making it an appealing proposal compared to various other sites with much shorter rent, says Brenda Ong, executive director and head of industrial & logistics, Singapore, at Cushman & Wakefield.
“A private ownership indicates that there is no constraint on the lease, which equates right into a simpler task process for the proprietors, along with no land rent application for the website,” she adds.
Under the URA Master Plan (2019 ), the location is zoned for B2 industrial use with a permitted plot proportion of 2.0. Currently, the site has an utilised plot proportion of 1.78.
The building is within walking range to Jurong East MRT Terminal and there is a bus stop situated just outside the commercial property.
A B2 commercial 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 marketing agent for the sale.
The expression of interest exercise for the residential property will certainly close on April 29 at 3pm.