Skip Ribbon Commands
Skip to main content

News Release

Singapore

City Fringe Business 1 Building At Jalan Kilang Barat Launched For Sale By Tender by Jones Lang LaSalle


​SINGAPORE, 11 September 2012 –  Jones Lang LaSalle has been appointed as the exclusive marketing agent to launch for sale by tender, a light industrial building located at Jalan Kilang Barat.
 
This industrial building is located within an established light industrial estate off Jalan Bukit Merah, within proximity to the Bukit Merah precinct and a short drive to the Central Business District (CBD). Surrounding buildings include the Panasonic Building, Mova Building and Petro Centre, as well as some developments that are currently under construction such as Central-Link and No.1 Jalan Kilang Barat.
 
The subject property is a single-user building which sits on a “Business 1” zoned site of 11,462 sq ft with a gross floor area of about 28,560 sq ft and lettable area of approximately 26,700 sq ft. The building, completed in January 2010, is currently owned and occupied by a single user, and the lease has about 48 years remaining.
 
The owner is expecting $20 million to $22 million for the subject property, which works out $700 psf to $770 psf of gross floor area and $750 psf to $824 psf of the estimated lettable area.

Tan Hong Boon, Regional Director of Investments at Jones Lang LaSalle comments:

“The subject property along Jalan Kilang Barat is ideal for owner occupation as corporate headquarters within a well-established industrial precinct. The existing building accommodates a showroom, warehouses and office space which has the flexibility to be configured for various needs. This caters well to a growing demand from occupiers seeking a cost effective, integrated business space solution that is close to the CBD area.”

Mr Tan added: “Potential buyers are offered a rare opportunity to own a single-user, modern and high-quality industrial building in this locality, especially as the newer developments around this area are often strata-titled for multiple users.”

Tender closes on 12 October 2012 (Friday) at 2.30pm.

– ends –


Notes to editors
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 $47.2 billion of assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 22,200 employees operating in 79 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was highly commended in a further three countries. For further information, please visit www.joneslanglasalle.com.sg, www.jllresidential.com/sg 200 East Randolph Drive Chicago Illinois 60601 │ 22 Hanover Square London W1A 2BN │ 9 Raffles Place #39–00 Republic Plaza Singapore 048619