Monday, April 22, 2013

Two industrial properties in Jurong for sale

The Business Times  |  April 18, 2013
Adjoining sites with 639,454 sq ft zoned for Business 2 use to be sold jointly

[SINGAPORE] Colliers International is putting up two adjoining JTC industrial sites for sale, one located at 1 Gul Avenue and the other at 3 Gul Circle.

The sale will be by expression of interest. Interested parties should submit their offer to Colliers by May 16, 2013 at 1pm. The asking price for the properties was not disclosed.

The sites will be jointly sold, and are zoned for "Business 2" use.

They have a total land area of approximately 639,454 sq ft. There are two single-storey warehouses with ancillary office space and four workshop/showroom/office buildings on the sites, with a gross floor area of some 527,418 sq ft.

The site at 1 Gul Avenue has a 24-year lease, while the site at 3 Gul Circle has a 16-year lease.

"The two sites combined make up a massive area of some six hectares. Industrial sites of this size, which comprise predominantly single-storey developments and open yard areas, are rarely made available for sale in Singapore," noted Rimon Ambarchi, executive director of industrial services for Asia at Colliers International.

"Hence, we expect healthy response from various industrial users - including those in the construction, industrial equipment, marine, manufacturing, oil and gas, and general warehousing industries, among others," he added.

Located within the Jurong Industrial Estate, the property is sited at the junction of Benoi Road. It is close to the Ayer Rajah Expressway, and the Pan Island Expressway.

The sites' location will be enhanced by its proximity to the proposed Gul Circle MRT station, which will be completed in 2016, said Mr Ambarchi.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)

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