Two industrial properties at 9 and 11 Third Chin Bee Road have been launched for sale via an expression of interest (EOI) exercise. The two adjoining properties, zoned for “Business 2” use, are currently used for warehousing and distribution of paper products and are linked by a covered yard for the loading and unloading of goods.
The properties sit on a 67,429 sq ft, leasehold site with a plot ratio of 2.5. They have a lease balance of approximately 20 years and current total gross floor area (GFA) of around 54,510 sq ft.
The vendor is seeking offers in excess of $9 million for the two properties (Picture: JLL)
The site is currently built up to a 0.8 plot ratio and can be refurbished and redeveloped to maximise its plot ratio by an additional 114,062 sq ft of GFA, according to Nicholas Ng, JLL’s senior director, capital markets. JLL is the exclusive marketing agent for the properties.
Situated within the Jurong housing estate, the properties will be within proximity to the upcoming Enterprise MRT Station along the Jurong Region Line. It is also accessible via the Pan Island Expressway and Ayer Rajah Expressway.
“The properties available for sale have a high visibility of 96m frontage onto third Chin Bee Road. They also have three separate access points which will allow the user to plan better traffic around the factory,” says Ng.
The vendor is seeking offers in excess of $9 million for the two properties. The EOI for the properties will close on May 28 at 2:30pm.