Expression of interest launched for Big Box mall

Singapore

THE receivers and managers of Big Box Pte Ltd are conducting an expression of interest (EOI) exercise for its Big Box mall in Jurong East.

It has a remaining land tenure of 30 years from March 23, 2007 (18 years unexpired). The site area is approximately 606,639 square feet (sq ft), and total gross floor area is about 1.4 million sq ft.

The eight-storey Big Box mall was constructed in 2014 and originally used as part of a warehouse retail scheme.

The building is now approved for "Business 1" or B1 industrial usage and will be offered with mostly vacant possession.

It has ceiling heights ranging from five to 18 metres and total useable area above one million sq ft on large floor plates.

It is interconnected to surrounding buildings such as JEM, and to Jurong East MRT via underground walkways. There are 1,726 carpark lots and ancillary container lots and lorry parking.

JLL, which is conducting the EOI exercise, said that should corporates with e-commerce and technology platforms, large scale logistics operators and third party service providers be interested in the site, they can immediately ramp up operations in an area that will benefit from its proximity to Jurong Port and the Jurong Lake District.

The EOI will be launched on April 9, with bids due on May 23. It follows a voluntary liquidation by Big Box initiated in September 2018, and approval of a credit restructuring scheme for TT International, which owns 51 per cent of Big Box.