Massive industrial site in Jurong Island put up for sale as Teijin Polycarbonate exits

It's closing down its Singapore plant.

The site of Teijin Polycarbonate’s current plant in Jurong Island has been put up for sale by expression of interest, following the group’s decision to shut down its local operations.

The facility, located at 111 Sakra Avenue, Jurong Island, has a size of 1.5m square feet and has a a remaining tenure of 12 years, with an option to renew for another 30 years.

Property consultant Colliers International will be in charge of the property’s sale. Interested parties are invited to submit their offers to Colliers International by 12 August 2015, at 4 pm.

Under the 2014 Master Plan, the subject site is zoned for Business 2 use with a maximum approved plot ratio of 1.0.

A purpose-built industrial plant and ancillary buildings – including warehouses, office and laboratory buildings, main and utility substations, and equipment rooms, among others – currently occupy the site.

Under the reinstatement requirement by JTC Corporation, all buildings and plants will be demolished, except for the sub-stations and two warehouses, which have floor areas of approximately 64,720 sq ft and 58,520 sq ft. The reinstatement works are expected to complete by end 2017.

Teijin resolved to withdraw from the business of its polycarbonate resin subsidiary in Singapore in November last year because it “lacks competitiveness in terms of energy costs”. The plant will close down at the end of December 2015.