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News Release

Rare Opportunity to Acquire a Business 1 zoned Property with Redevelopment potential in a Central Location

For Sale by Private Treaty


SINGAPORE, 18 July 2012 – Jones Lang LaSalle has been appointedas exclusive marketing agents for the sale of 8 and 10 Chang Charn Road.  This offering represents a rare opportunity to acquire a quality 6 storey building with adjoining site with redevelopment potential (subject to local  authority approval) which is zoned Business 1 and located in a Central Location.
The property at 8 Chang Charn Road has showroom, warehouse and conference room on the 1st storey and mezzanine; reception, offices, pantry, warehouse and bathroom on the 2nd to 5th storey; multiple purpose hall, offices and bathroom on the 6th storey and has a built up area of approximately 34,907sq ft and sits on a site of 12,519sqft.  The adjoining redevelopment site at 10 Chang Charn Road comprises a production area which is a single storey detached factory and 2 storey office block in front, comprising office and bathroom on the first storey and office on the second storey, with a plot ratio of 2.5.  The site area for 10 Chang Charn Road is 8,762sqft and total built up area is 5,274sqft.
 
The tenure of the property is 99 year lease which has 45 years remaining and the site is located in the sought after Chang Charn Road (which currently comprises a number of car showrooms and repair workshops) near Leng Kee Road and Redhill MRT station and easily accessible via AYE
Expressway. The property is currently corporate headquarters for the owners and is fully occupied.
 
Mok, Sze Sze, Head of Auctions at Jones Lang LaSalle, comments “Given the centrality of the area and the redevelopment potential of the site and the fact that there are limited plots in the same vicinity  available for sale, we expect a strong response from the market, as it represents an excellent opportunity for corporate entities looking to house their business or corporate headquarters.”
 
Asking price for this property is S$45million  subject  to negotiation and further enquiries should be directed to marketing agent Mok, Sze Sze at Jones Lang LaSalle.
 
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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.7 billion of assets under management.
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