Singapore, 16 May 2018 - Cushman & Wakefield has been appointed by Big Box Pte Ltd (Receivers and Managers appointed), as the exclusive marketing agent for the sale of Big Box, a well-known landmark in Jurong East Regional Centre. This divestment exercise will be conducted via an Expression of Interest (“EOI”) which will close on 14 June 2018 (Thursday), 3.00pm.
Big Box is located in the heart of Jurong Gateway within the new Jurong Lake District, a vibrant commercial precinct in the western part of Singapore. It is well-connected with a sheltered pedestrian bridge linking JEM to Jurong East MRT Interchange station. It is accessible via the Ayer Rajah Expressway (AYE) and Pan Island Expressway (PIE) and Tuas Second Link and is supported by a large catchment of labour supply from the surrounding residential estates in Jurong, West Coast and the Clementi neighbourhoods.
The property has a site area of 56,385.7 sq m (approximately 606,639 sq ft) and a Gross Floor Area of 130,531.89 sq m (approximately 1,405,032 sq ft). This translates to an existing Plot Ratio of 2.31. According to the Jurong Town Corporation (JTC) lease agreement, it is approved for “Business 1” use with a Gross Plot Ratio of up to 2.5 and a lease tenure of 30 years commencing 23 March 2007 (a balance of 19 years approximately). The Warehouse Retail Scheme (WRS) has expired.
The subject development comprises an existing 8-storey ramp-up warehouse building with a basement level. There are currently 1,726 car park lots within the building which can potentially be converted into additional GFA, subject to the relevant authorities’ approval.
Shaun Poh, Executive Director of Capital Markets for Cushman & Wakefield, said: “With a Gross Floor Area of over 1.4 million square feet, Big Box is probably the largest ramp-up warehouse asset to be offered for sale in recent years. This is a compelling opportunity for logistics players, e-commerce fulfilment & warehousing companies as well as other third-party facilities service providers to acquire a rarely available warehouse facility within the prime Jurong Gateway locale.”
For further information, please contact:
Executive Director, Capital Markets
+65 9662 6430
About Cushman & Wakefield
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