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Sites within walking distance to Joo Koon MRT station and highly accessible via expressways
SINGAPORE, 16 October 2013 – Jones Lang LaSalle is the exclusive marketing agent for the sale of 9 Joo Koon Road and 20 Joo Koon Crescent – both quality “Business 2” zoned industrial buildings located within a well-established industrial area and walking distance to Joo Koon MRT Station.
9 Joo Koon Road consists of a single-storey standard factory with a mezzanine level, comprising of a warehouse/production and office areas, while 20 Joo Koon Crescent is a 2-storey production/warehouse with a mezzanine office level.
9 Joo Koon Road has a gross floor area (GFA) of approximately 23,266 sq ft, sitting on a leasehold site of 39,116 sq ft with a balance lease of 31 years. 20 Joo Koon Crescent has a GFA of approximately 40,500 sq ft, on a leasehold site of 44,476 sq ft, with a balance lease of 43 years. Both properties are zoned Business 2 (B2) and have a plot ratio of 1.4 under the 2008 Master Plan. There is potential to add on an additional of 31,496 sq ft and 21,766 sq ft of GFA for the two properties respectively.
The sites are situated within a well-established industrial area and are highly accessible via the Ayer Rajah Expressway (AYE) and Pan Island Expressway (PIE) and located near established housing estates. In addition, they are near the future Jurong Lake District and future Tuas Megaport and Shipyard, with easy access to the Second Link and Iskandar region.
Mr Nicholas Ng, Local Director of Investments at Jones Lang LaSalle, comments, “The sites would be a good fit for companies looking for space to expand in the area and accessibility will be enhanced once the Joo Koon Integrated Transport Hub, which is scheduled to open in 2015, comes into operation. Both assets cater to varying space requirements and have the potential to maximise their existing GFA. Currently, smaller sites in the Industrial Government Land Sales Programme offered are on shorter 21 and 22 year leases; hence this would be a good opportunity to acquire a longer lease term site with an existing factory, in an excellent locality that would enable operations to commence almost immediately. The longer lease tenure lease tenure will also allow end users to better develop and execute their expansion plans in the near future.”
The properties will be sold by Expression of Interest which will close at 3 pm on 5 November (Tuesday) 2013 for 9 Joo Koon Road and 7 November (Thursday) 2013 at 3pm for 20 Joo Koon Crescent.
About Jones Lang LaSalle Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 25,100 employees operating in 78 offices in 14 countries across the region. We were the first commercial property firm to establish an Australian presence in 1958 and currently employ over 1,600 employees throughout our 12 offices across the country. 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 named the number one real estate advisory firm in Asia Pacific in the Euromoney Real Estate Awards 2012. www.ap.joneslanglasalle.com.
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