http://www.businesstimes.com.sg/arch...s-sale-45m-tag

Published July 19, 2012

Chang Charn Rd sites for sale with $45m tag


[SINGAPORE] Two adjacent plots along Chang Charn Road in the Leng Kee area have been put up for sale, with an asking price of about $45 million.

The first, at 8 Chang Charn Road, a quality six-storey building, has a built-up area of 34,907 sq ft and sits on a 12,519 sq ft site. It comprises a showroom, warehouse, and conference room on the first storey and mezzanine; reception, offices, pantry, and warehouse space on the second to fifth storeys; and a multiple purpose hall and offices on the sixth storey.

The adjoining redevelopment site at 10 Chang Charn Road consists of a single-storey detached factory and a two-storey office block in front. The 8,762 sq ft site has a plot ratio of 2.5, and the existing built-up area is 5,274 sq ft.

The tenure for the property, which is currently the corporate headquarters for the owners and is fully occupied, is 99 years, of which there is 45 years remaining. Both plots are zoned Business 1.

"Given the centrality of the area and the redevelopment potential of the site and the fact that there are limited plots in the same vicinity available for sale, we expect a strong response from the market, as it represents an excellent opportunity for corporate entities looking to house their business or corporate headquarters," said Mok Sze Sze, head of auctions at Jones Lang LaSalle, the marketing agent for the sites.

Chang Charn Road, which has a number of car showrooms and repair workshops, is near the Redhill MRT station.