Industrial development near Joo Koon MRT up for sale
By Tan Chee Yuen
/ JLL, The Edge Property |
A two-storey industrial property at 9 Joo Koon Circle is being put up for sale. It has a gross floor area (GFA) of approximately 95,174 sq ft, sitting on a leasehold site of 102,478 sq ft with a balance lease of 4+30 years. The property comprises a warehouse, production, office areas and a large open yard space.
The site is zoned for “Business 2” use, with a plot ratio of 1.4. It is currently built up to a 0.92 plot ratio and has the potential to be refurbished and redeveloped to maximise its plot ratio for an additional 48,296 sq ft of GFA.
Latest comparable transaction was 3 Joo Koon Circle, caveated at $16,500,000 in November 2014, with a balance of tenure of approximately 3+30 years for $310 psf on GFA.
JLL is marketing the property via Expressions of Interest, which will close at 3 pm on Thursday 3 September 2015.
Subject property at 9 Joo Koon Circle
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