JLL markets trio of industrial properties in Tuas South

SINGAPORE, September 11, 2024 – JLL (NYSE: JLL), as exclusive marketing agent, announced the sale of three industrial properties located in Tuas South. The collective indicative price is set at $36 million. The sites can also be purchased individually with each property being marketed for $12 million.

Located at 9 Tuas South Street 9, 10 Tuas South Street 10, and 11 Tuas South Street 9, the three properties are situated in the Tuas South industrial hub. 9 and 11 Tuas South Street 9 are located adjacent to each other while 10 Tuas South Street is located across the street. The three sites are currently used for warehousing and storage for construction cranes as well as freight transportation services.

Based on the Urban Redevelopment Authority’s (URA) Master Plan 2019, all three sites are approved for Business 2 usage with a plot ratio of 1.0. A key advantage of the three properties is that there are high ceiling structures complete with overhead cranes as well as ample open land for heavy vehicle circulation.

9 Tuas South Street 9 consists of a 3-storey detached factory with an ancillary office along with a single storey loading area. The asset has a balance private leasehold term of approximately 11 years as of 2024. Spanning a site area of over 90,000 square feet (sq ft), it boasts a Gross Floor Area (GFA) of over 65,000 sq ft.

The property at 10 Tuas South Street 10 comprises a 4-storey factory building, a single-storey factory building, and a temporary ancillary workers' dormitory approved until 14 December 2026.The property’s land area measures close to 130,000 sq ft of which the GFA is approximately 77,000 sq ft. It is currently under a JTC leasehold with a balance lease term of approximately 11 years as of 2024.

Lastly, 11 Tuas South Street 9 offers a part 2 and 3-storey single-user general industrial detached factory. It occupies a land area of just over 90,000 sq ft and has a built-up area close to 65,000 sq ft. It too has a balance private leasehold term of approximately 11 years as of 2024. Along with 9 Tuas South Street 9, these two sites would allow investors to potentially rent them out as they are non-JTC properties.

The three assets would be useful for end-users in need of space for general Business 2 industries. This could include those in the construction industry which will be in demand in the locality as the Pasir Panjang port moves to Tuas South. The properties’ location also provides easy access to major transport routes and supporting amenities in the industrial hub.

"Logistics and industrial real estate have proven their resilience and strategic importance. Appetite for non-JTC properties has also been increasing in recent years. These properties in Tuas South stand out for their location, access to transport networks, and opportunity for diverse business operations. Their vicinity to the future Tuas Mega Port further amplifies their value. They present a golden opportunity for investors looking to solidify their foothold in one of Singapore's pivotal growth sectors," says Tan Boon Leong, Executive Director, Logistics & Industrial, JLL Singapore.

The Expression of Interest (EOI) will conclude at 3pm on Thursday, 10 October 2024.