10 Toh Guan Road East (the “Property”) has been put up for sale via an Expression of Interest (EOI). Cushman & Wakefield is the appointed exclusive marketing consultant for the sale.
The Property comprises five floors, a basement carpark and has a gross floor area of approximately 145,366 sqft (13,505 sqm). The Property was a Build-to-Suit in 2000 for its current anchor tenant, a reputable MNC, as their regional headquarter, and is primarily used as a service base for their distribution centre, sales, repair, and maintenance workshop. Under the URA Master Plan (2019), the site is zoned Business 2 (B2) (Industrial) with permissible plot ratio of 2.0. The B2 zoning and current utilized plot ratio of only 1.78 indicate great potential to further maximize the space for future expansion.
The Property is situated along Toh Guan Road East within Jurong Lake District, one of the largest mixed-use business districts in Singapore. Surrounded by shopping malls such as Westgate, JEM and IMM, the Property is within walking distance to Jurong East MRT Station and easily accessible via the bus stop located just outside the Property as well as via Pan Island Expressway (PIE) and Ayer Rajah Expressway (AYE). The Property is surrounded with both single and multi-users developments in mixed industries including Logistics, Self-Storage, Building & Construction, Light Manufacturing, Automation as well as furniture showroom.
“In addition to its prime position within the Jurong Lake District, 10 Toh Guan Road East’s 35 years balance lease tenure is also extremely attractive, and is an edge above other shorter lease sites, creating demand from investors who will be able to maximise the asset,” said Brenda Ong, Executive Director and Head of Industrial & Logistics, Singapore at Cushman & Wakefield. “The Property presents great opportunities with its potential for own use and/or investment purposes. A private ownership means that there is no restriction on lease, which translates into a simpler assignment process for the owners, as well as no land rent application for the site.”
The EOI exercise closes on 29 April 2022, at 3.00pm.