Boustead Industrial Fund acquires J’Forte Building for almost $100m
The property has 44 years left on the lease.
J’Forte Building, a food manufacturing facility, at 26 Tai Seng Street, has been sold to Boustead Industrial Fund for almost $100m.
Knight Frank, which brokered the sale of the property, said the transaction is “still subject to the approval from government landlord Jurong Town Corporation (JTC) and other relevant authorities.”
Under the Urban Redevelopment Authority’s Master Plan 2019, the site where the property sits measures approximately 70,926 square feet (sq ft) and is zoned Business 2 (B2)-White1, with an allowable Gross Plot Ratio of 3.52.
The facility’s gross floor area measures 193,012 sq ft, including 177,335 sq ft of B2 space and 15,677 sq ft of white-use space.
J’Forte Building’s original land tenure comes with 30+30 years from 9 June 2007. It has 44 years left on the lease.
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