Big Box in Jurong East Regional Centre put up for sale

It has a gross floor area of 1,400,000 sqft, making it one of the largest ramp-up warehouses up for sale in recent years.

The sale of Jurong East Regional Centre landmark Big Box has been launched and will be conducted via an Expression of Interest (EOI), its sole marketing agent Cushman & Wakefield revealed.

The site is well-connected with a sheltered pedestrian bridge linking JEM to Jurong East MRT Interchange station. "It is accessible via the Ayer Rajah Expressway (AYE) and Pan Island Expressway (PIE) and Tuas Second Link and is supported by a large catchment of labour supply from the surrounding residential estates in Jurong, West Coast and the Clementi neighbourhoods," C&W said.

The property has a site area of 56,385.7 sqm (approximately 606,639 sqft) and a Gross Floor Area of 130,531.89 sqm (approximately 1,405,032 sqft). This translates to an existing Plot Ratio of 2.31. It is approved for “Business 1” use with a Gross Plot Ratio of up to 2.5 and a lease tenure of 30 years and a balance of 19 years.

According to C&W, its Warehouse Retail Scheme (WRS) has expired.

The subject development comprises an existing 8-storey ramp-up warehouse building with a basement level. "There are currently 1,726 car park lots within the building which can potentially be converted into additional GFA, subject to the relevant authorities’ approval," C&W added.

C&W executive director of capital markets Shaun Poh commented, “With a Gross Floor Area of over 1.4 million sqft, 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.”

The divestment exercise will close on 14 June 2018 (Thursday), 3 p.m.

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