Three-storey building in Toa Payoh up for sale

By Bong Xin Ying / EdgeProp Singapore | November 4, 2019 6:45 PM SGT
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SINGAPORE (EDGEPROP) - A three-storey motor vehicle showroom and workshop in Toa Payoh is up for sale via expression of interest (EOI). This is sold with vacant possession and subject to goods and service tax. Savills Singapore is the marketing agent.
The three-storey property is located on a trapezoidal plot of 58,743 sq ft, at 17 Lorong 8 Toa Payoh, off Braddell Road/Lorong 6 Toa Payoh. Surrounding developments include HDB flats and light industrial developments like Braddell Tech, STI Motor Centre, and Toyogo Building. It is easily accessible via the Central Expressway, Pan Island Expressway, and major arterial roads.
The detached factory comprises a car showroom, office and workshop area on the first storey, general offices on the second storey, and warehouse/store/office on the third storey. Completed in the 1990s, it occupies a floor area of about 59,621 sq ft.
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The property has a lease tenure of 30 years, with an additional 30 years commencing from March 1, 1993, that was granted by Jurong Town Corp. It has a current unexpired lease of 33 years.
Subject to approval from the authorities, the site can be put to alternative uses and reconfigured to maximise its unutilised plot ratio of about 1.5 times.
The EOI exercise will close at 3pm on Dec 12.
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