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SG Two industrial buildings in Joo Koon for sale

Property Here - Wednesday, October 16, 2013

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Two industrial buildings located in Joo Koon are up for sale by expression of interest (EOI), said marketing agent Jones Lang LaSalle. 

The property at 9 Joo Koon Road (pictured) is a single-storey factory with a mezzanine level and comprises warehouse and office spaces. The 39,116 sq ft site is being offered on a 31-year lease, and has a gross floor area of about 23,266 sq ft.  

The other, a 43-year leasehold two-storey warehouse at 20 Joo Koon Crescent, has a land area of 44,476 sq ft and a GFA of around 40,500 sq ft.

Zoned Business 2, both buildings have a plot ratio of 1.4 under the 2008 Master Plan and could be extended by an additional GFA of 31,496 sq ft and 21,766 sq ft respectively.

Additionally, the sites are situated within a well-established industrial area and are close to Joo Koon MRT station, major expressways, as well as the future Jurong Lake District and Tuas Megaport and Shipyard.

Nicholas Ng, Local Director of Investments at Jones Lang LaSalle, said: “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.”

He added: “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 will also allow end users to better develop and execute their expansion plans in the near future.”

The EOI exercise for 9 Joo Koon Road closes on 5 November, while it ends on 7 November for 20 Joo Koon Crescent.