103 Gul Circle industrial building now on the sale block

Sale closes on September 10.

Jones Lang LaSalle, the exclusive marketing agent for the sale of 103 Gul Circle, said that 103 Gul Circle represents an opportunity to acquire a quality "Business 2” zoned industrial building located in an established industrial estate.

The property will be sold by Expression of Interest and will close at 3pm on 10 September (Tuesday) 2013.

The asset consists of a large two and a half storey factory comprising a warehouse, laboratories, office areas and large open yard space. It has a gross floor area (GFA) of approximately 42,536 sq ft, sitting on a leasehold site of 68,285 sq ft with the option to extend for 30 years. The property sits in the “Business 2” zone and has a plot ratio of 1.4.

The asset is situated in an established industrial estate on Gul Circle, within walking distance of the proposed Gul Circle MRT. It is also highly accessible from the Ayer Rajah Expressway and Pan Island Expressway.

Nicholas Ng, Local Director of Investments at Jones Lang LaSalle, comments, “This asset is currently occupied by a well-established skin care pharmaceutical company and JTC has indicated that the buyer’s proposed activities in the subject premises should be of a similar pharmaceutical nature or within a related biomedical industry such as medical technology.”

“The factory would be a good fit for companies looking for space to expand in the area. The site is currently built up to a 0.62 plot ratio and has the potential to be refurbished and redeveloped to maximize its plot ratio by an additional 53,063 sq ft of GFA.”

“Properties such as this with dual frontages and large open yard, located within walking distance of an MRT station, are rarely available for sale.”

Jones Lang LaSalle had transacted a number of other properties in the vicinity including; 19 Enterprise Road for S$15.688 million in May 2013, with a site area of 109,146 sq ft and balance of 25 years remaining on the lease; 101B Pioneer Road for S$17 million in March 2013, with a site area of 210,620 sq ft and balance of 13 years remaining on the lease; and 39 Benoi Road for S$25.6 million in February 2013, with a site area of 306,318 sq ft and balance of 18 years remaining on the lease.