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News Release

Singapore

Long lease industrial site in Tuas South up for sale at $8.9 million

Sale by Expression of Interest closing on Thursday 13 March 2014, 3 pm.


SINGAPORE, 5 February 2014 – Jones Lang LaSalle is the exclusive marketing agent for the sale of 17 Tuas South Street 5, a long lease industrial site in an up-and-coming industrial estate.

The asset consists of a 2-storey building with production, storage and a mezzanine office. It has a gross floor area (GFA) of approximately 39,795 sq ft, sitting on a site of 34,189 sq ft with a remaining tenure of about 45 years. The property sits in the Business 2 zone and has a plot ratio of 1.4.

Situated in Tuas Industrial Estate, the site is accessible via the Ayer Rajah Expressway and Pan Island Expressway. Accessibility will be enhanced with a viaduct connecting Pioneer Road to Tuas South, which is expected to be completed in 2016.

Mr Nicholas Ng, Local Director of Investments at Jones Lang LaSalle, comments: "Factories with lease tenure of more than 40 years are rarely available for sale. This site will be attractive for industrialists with huge upfront costs or leases which are expiring in the next few years. The owner is looking at an asking price of $8.9million."

"The factory comes with dual frontages and would be a good fit for logistics and heavy industrialists such as marine and offshore engineering which would like to establish a base in Tuas. Supporting businesses that set up in Tuas South will benefit from the long-term consolidation of port activities in Tuas and upcoming BioMed One and Lube Park."

The property will be sold by Expression of Interest which will close at 3pm on Thursday 13 March 2014.

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