Rarity of Such Sizable Plot of JTC Land Available for Private Sale
International property consultant, Colliers International has been appointed by Teijin Polycarbonate Singapore to put up for sale – by Expression of Interest – its industrial facility located at 111 Sakra Avenue, Jurong Island.
Interested parties are invited to submit their offers to Colliers International by 12 August 2015, at 4 pm.
The subject property, which has two separate entrances, sits on a fairly regular-shaped site. The 1.5 million sq ft site has a remaining tenure of 12 years, with an option to renew for another 30 years.
Under the 2014 Master Plan, the subject site is zoned for “Business 2” use with a maximum approved plot ratio of 1.0.
A purpose-built industrial plant and ancillary buildings – including warehouses, office and laboratory buildings, main and utility substations, and equipment rooms, among others – currently occupy the site.
Under the reinstatement requirement by JTC Corporation, all buildings and plants will be demolished; and subject to authorities' approval, the sub-stations and two warehouses, which have floor areas of approximately 64,720 sq ft and 58,520 sq ft, will remain. The reinstatement works are expected to complete by end 2017.
Mr Tan Boon Leong (陈文龙), Executive Director of Industrial Services, says, “This is most probably the first in 20 years that land of such a considerable size in Jurong Island is made available for private sale. Long tenure of industrial land leases – in this case, 42 years – is also becoming rare in recent years.
Hence, the niche group of companies in the offshore energy, petrochemical, oil and gas industries, as well as related supporting industries in logistics and warehousing – who are looking to expand their operations on the Island or to create production synergy to achieve cost efficiency – could take advantage of this opportunity.”
He continues, “Given that the plot ratio is currently under-utilised, there is huge potential for the successful buyer to re-develop purpose-built industrial facilities according to his/her business needs, subject to relevant authorities’ approval.”
Located on the south western area of Sakra Avenue on Jurong Island, the subject property is accessible from Jalan Ahmad Ibrahim and Ayer Rajah Expressway via Jurong Pier Road. It is in proximity to the seaport and the future mega-port in Tuas. Notable companies on the Island include BASF, Celanese, ExxonMobil, Dupont, Mitsui Chemicals, Chevron Texaco, Shell and Sumitomo Chemical, among others.