12 International Business Park off Jurong Town Road has been put up for sale via private treaty, with a guide price of $40 million, revealed Savills. With a GFA of around 116,695 sqft, the property is nestled on an 86,115 sqft site that is zoned for business park use under the 2019 Master Plan with a maximum plot ratio of 2.5. It has a 60-year JTC leasehold tenure that started from 1 Dec 1995, which means it has a remaining lease of around 35 years Developments within the vicinity include The Strategy, The Synergy, lquest, Nordic European Centre, Acer Building, Icon @ IBP and German Centre. “12IBP offers a redevelopment opportunity with the current under-utilised plot ratio and long remaining land lease of 35 years,” said Sharon Teo, MD of Business Space at Savills, who is handling the sale. “With ready infrastructure and dual feed power, potential interests include industries from ecommerce, data centre, technology and research orientated etc.”... Continue Reading