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News Release

SINGAPORE

JLL launches a B2 zoned development in established industrial estate for sale by Expression of Interest

JLL has been appointed sole marketing agent for the sale of 3 Gul Crescent, a quality “Business 2” zoned industrial building located in an established industrial estate, near the Gul Circle MRT station.


Singapore, 6 August 2018 – JLL has been appointed sole marketing agent for the sale of 3 Gul Crescent, a quality "Business 2" zoned industrial building located in an established industrial estate, near the Gul Circle MRT station.

 

The asset consists of two large buildings interlinked together, comprising warehousing, production, office areas, loading and unloading bays and a large open yard space. It has a gross floor area (GFA) of approximately 64,495 sq ft. sitting on a leasehold site of 117,499 sq ft with a balance lease of approximately 22.5 years. The property sits in the "Business 2" zone and has a plot ratio of 1.4.

 

Situated within the established Gul industrial estate, the asset is in close proximity to the Gul Circle MRT station. The Integrated Joo Koon Transport Hub is just a 10-minute bus ride away, and provides commuters with much convenience as there is a bus Interchange, NTUC Warehouse Club, clinic, and numerous eateries and shops. It is also highly accessible via the Ayer Rajah Expressway (AYE) and Pan Island Expressway (PIE), in addition to being located near established housing estates.

 

Nicholas Ng, Director, Capital Markets, JLL, commented: "This property will be a good fit for companies looking for a corporate presence or to expand within the Gul Industrial Estate. The site is currently built up to a 0.55 plot ratio and has the potential to be refurbished and redeveloped to maximise its plot ratio by an additional 100,004 sq ft of GFA. The built up of the existing two warehouses with large floor plate, high  floor loading and high ceiling being well maintained, will allow an end user to move in easily to optimise the space. The potential buyer could also eventually expand on this site and maximise on the potential GFA in the near future."

 

The vendors, an import and distribution business servicing the print industry, are relocating in order to optimise their operations, and are seeking offers in excess of S$13 million.

 

The Expression of Interest will close on 14 September 2018, at 3.00 p.m.

 

 

 

 

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Note to editors:

  1. A high-resolution image of 3 Gul Crescent is available here.

 

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com