{"id":88572,"date":"2018-05-17T15:38:14","date_gmt":"2018-05-17T08:38:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/jurongs-big-box-building-put-up-for-sale\/"},"modified":"2018-05-17T16:02:47","modified_gmt":"2018-05-17T09:02:47","slug":"jurongs-big-box-building-put-up-for-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jurongs-big-box-building-put-up-for-sale\/","title":{"rendered":"Jurong\u2019s Big Box building put up for sale"},"content":{"rendered":"


\nAerial view of the Big Box warehouse retail mall in Jurong East. (Photo: Cushman & Wakefield)
\nThe Big Box warehouse retail mall in Jurong East has been put up for sale via expression of interest (EOI) by the owner\u2019s receivers and managers with no guide price given, revealed marketing agent Cushman & Wakefield on Wednesday (16 May).
\nThe eight-storey building is owned by Big Box Pte Ltd, a 51 percent subsidiary of TT International, a consumer electronics retailer that was struggling to repay a $125 million loan facility granted by OCBC Bank.
\nMore: Goldhill Shopping Centre In Novena On Sale For $425m
\nSituated on a 606,639 sq ft site, Big Box has a gross floor area (GFA) of 1,405,032 sq ft and a plot ratio of 2.31. It has a basement level and comes with1,726 car park lots that can be converted into additional GFA.
\n\u201cWith a GFA of over 1.4 million sq ft, Big Box is probably the largest ramp-up warehouse asset to be offered for sale in recent years. This is a compelling opportunity for logistics players, e-commerce fulfilment & warehousing companies as well as other third-party facilities service providers to acquire a rarely available warehouse facility within the prime Jurong Gateway locale,\u201d said Shaun Poh, Cushman\u2019s executive director of capital markets.
\nBased on the agreement with Jurong Town Corporation, the Business 1 site has an allowable gross plot ratio of up to 2.5. It also has a remaining lease tenure of around 19 years given its 30-year leasehold term that started on 23 March 2007. However, it can no longer take advantage of the expired Warehouse Retail Scheme (WRS), which allows warehouses to use up to 40 percent of its GFA as ancillary retail space.
\nBig Box was the biggest project built under the Economic Development Board\u2019s WRS scheme, with around 400,000 sq ft of retail space. It was also a popular one-stop shop given the affordable prices of products there sourced directly from manufacturers. It had also housed Singapore\u2019s biggest frozen seafood section.
\nLocated in the heart of Jurong Gateway within the new Jurong Lake District, Big Box is conveniently accessible via a sheltered pedestrian bridge connecting JEM to Jurong East MRT interchange station.
\nThe EOI exercise will close on 14 June.
\nLooking for an HDB flat in Jurong East? Browse HDB flats for sale and rent at Jurong East or read our HDB guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Jurong\u2019s Big Box building put up for sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of the Big Box warehouse retail mall in Jurong East. (Photo: Cushman &...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-88572","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-n2A","jetpack-related-posts":[{"id":123179,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sixth-avenue-centre-up-for-collective-sale-for-85mil\/","url_meta":{"origin":88572,"position":0},"title":"Sixth Avenue Centre up for collective sale for $85mil","date":"November 12, 2021","format":false,"excerpt":"\r Located at 805 Bukit Timah Road, Sixth Avenue Centre sits on a 15,009 sq ft land plot. 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