The Big Box warehouse building beside the Jurong East MRT interchange and JEM mall has been put up for sale, announced marketing agent Cushman & Wakefield (C&W). The receivers have not released a guide price for the development, which has a gross floor area of 1.4 million sq ft. The divestment exercise will be conducted via an expression of interest (EOI).
'Big Box' warehouse in Jurong East (Pictures: C&W)
Located in the Jurong Lake District, the property is on a 606,639 sq ft plot. Under the 2014 Master Plan, it is zoned for Business-1 use with a gross plot ratio of up to 2.5. It has a 30-year lease from March 2007. The development comprises an eight-storey ramp-up warehouse with basement and has 1,726 car park lots which can be converted into additional gross floor area, subject to approvals.
Under the 2014 Master Plan, it is zoned for Business-1 use with a gross plot ratio of up to 2.5
“This is a compelling opportunity for logistics players, e-commerce fulfilment & warehousing companies as well as other third-party facilities service providers to acquire a rarely available warehouse facility within the prime Jurong Gateway locale,” says Shaun Poh, executive director of capital markets for C&W.
The EOI will close on June 14.