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News Release

Singapore

Industrial development near Joo Koon Integrated Transport Hub up for sale

Highly visible site with prominent frontage


​​​SINGAPORE, 22 JULY 2015 – JLL has been appointed exclusive marketing agent for the sale of 9 Joo Koon Circle, a quality "Business 2" zoned industrial building located in an established industrial estate, near Joo Koon MRT station.

The asset consists of a large two-storey factory comprising a warehouse, production, office areas and a large open yard space. It has a gross floor area (GFA) of approximately 95,174 sq ft, sitting on a leasehold site of 102,478 sq ft with a balance lease of 4+30 years. The property sits in the "Business 2" zone and has a plot ratio of 1.4. Recent comparable transaction in the Joo Koon Industrial area was 3 Joo Koon Circle, a smaller property, was caveated at $16,500,000 in November 2014, with a balance of tenure of approximately 3+30 years for $310 psf on GFA.

 

The asset is situated within an established industrial estate in Joo Koon Circle and is within walking distance to the Joo Koon MRT station where the new Integrated Transport Hub is located, providing convenience and easy access to shopping and transfer between bus and train to the other parts of the island. It is also highly accessible via the Ayer Rajah Expressway and Pan Island Expressway, in addition to being located near established housing estates.

 

Nicholas Ng, Local Director of Capital Markets at JLL, commented: "This property would be a good fit for companies looking for space to expand within the Joo Koon area. With its prominent frontage of approximately 70m along Ayer Rajah Expressway (AYE) and Jalan Ahmad Ibrahim, the company is highly visible and easily noticed. The site is currently built up to a 0.92 plot ratio and has the potential to be refurbished and redeveloped to maximise its plot ratio by an additional 48,296 sq ft of GFA. The built up of the existing factory with large floor plate and high ceiling, will save the buyer massive upfront capital expenditure and allow them to start operations early, as opposed to greenfield option whereby cost and time will have to be incurred in the construction of a new premise."

 

The property will be sold by Expressions of Interest which will close at 3 pm on Thursday 3 September 2015.


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