Savills Singapore is pleased to announce their appointment as sole marketing agent on the sale of 12 International Business Park. The guide price on the sale of the property via private treaty is S$40 million.
The subject property is located at the Southern part of the International Business Park, off Jurong Town Hall Road, and approximately 14 km from the City Centre. It has a total site area of approximately 86,115 square feet with a gross floor area of approximately 116,695 square feet. Under the Urban Redevelopment Authority's Master Plan 2019, the land is zoned Business Park, with a plot ratio of maximum 2.5. The property has a JTC leasehold tenure of 60 years, effective from 1 December 1995, with a remaining lease of circa 35 years.
It lies within International Business Park, the first business park in Singapore, and is managed by Jurong Town Corporation. It was established in 1992 and it is home to a cluster of modern high-tech buildings catering to knowledge-based activities of software development, research and some ancillary supporting uses.
Prominent developments in the vicinity include The Synergy, The Strategy, Nordic European Centre, lquest, German Centre, Acer Building, Icon @ IBP, amongst others. Social amenities, eateries and shopping facilities are readily available in the immediate vicinity and at Jurong East Town Centre, just a short drive away.
The subject property is a short drive away from the Jurong Regional Centre at Jurong Gateway, which is slated to be the largest regional centre in Singapore, with the development of Jurong Lake District and positioned to be the second Central Business District of the future.
Public transportation is available within the estate. Labour supply is available from the nearby Jurong East, Jurong West and Bukit Batok HOB estates. Accessibility to other parts of Singapore is enhanced by its proximity to the Ayer Rajah Expressway, Pan Island Expressway and Jurong East MRT Station.
Sharon Teo, Managing Director, Business Space, Savills Singapore, who is handling the sale, commented: “12IBP offers a redevelopment opportunity with the current under-utilised plot ratio and long remaining land lease of 35 years. With ready infrastructure and dual feed power, potential interests include industries from ecommerce, data centre, technology and research orientated etc.”
The guide price via private treaty sale is S$40 million.
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