Restaurant space in Jurong Gateway for $15 million

A commercial space located on the second level of an HDB block at 135 Jurong Gateway Road has been put up for sale by Savills Singapore. The property is located within 200m from the Jurong East MRT station and bus interchange and is close to JCube shopping mall, Jurong Regional Library, the CPF Building and an upcoming pedestrian mall linking the Jurong Gateway and Jurong Lake districts.
The 11,248 sq ft space is currently occupied by Boon Lay Raja Restaurant, a 60-table Chinese restaurant. The commercial space has 69 years remaining on its lease from the HDB. Using the space for other trades may be allowed, subject to HDB’s approval, says Derrick Tan, associate director of investment sales at Savills Singapore, who is handling the deal.The indicative reserve price is $15 million or $1,334 psf over the strata area. The property has been put up for sale by tender, which will close on Nov 6.
This article appeared in the City & Country of Issue 647 (Oct 13) of The Edge Singapore.