Industrial site on Jurong Island up for sale by expression of interest

TEIJIN Polycarbonate Singapore has put up its industrial facility at Jurong Island for sale by expression of interest.

The property, which has two separate entrances, sits on a 1.5 million sq ft site which has a remaining tenure of 12 years and an option to renew for another 30 years. Under the 2014 Master Plan, the site is zoned for "Business 2" use with a maximum approved plot ratio of 1.0.

Tan Boon Leong, executive director of industrial services at Colliers International which has been appointed to put up the property for sale, said: "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."

Under the reinstatement requirement by JTC Corporation, all buildings and plants will be demolished, except for the sub-stations and two warehouses, which have floor areas of about 64,720 sq ft and 58,520 sq ft. The reinstatement works are expected to be completed by end 2017.

The expression of interest ends on Aug 12 at 4pm.