Two commercial projects are going for sale by expression of interest:
1. The entertainment complex at 1 and 3 Yuan Ching Road - commonly referred to as SuperBowl Jurong.
Indicative asking price is S$20 million.
2. A row of 5 adjoining shophouses at 142 to 150 (even numbers) Joo Chiat Road.
It has a total land area of about 7,503.58 sq ft.
Tenure of land to be determined upon closure of expression of interest.
SuperBowl Jurong Complex
The SuperBowl Jurong complex with a site area of 234,152 sq ft is part 2-storey and part 3-storey block, plus a pair of 2-storey blocks. It has a total net floor area of about 111,000 sq ft.
The JTC Complex 30 years lease starts from Jan 1, 2002. Occupancy rate stands at 99.6%. Tenants in the complex include Sheng Siong supermarket, McDonald's, Subway, and SuperBowl.
For operators in the lifestyle, entertainment and recreational industries, SuperBowl Jurong comes as a good fit. When the transformation is complete under the Jurong Lake District development plans, businesses will thrive even more. Things to look forward to will be the Singapore-Kuala-Lumpur high-speed rail terminus, the edutainment clusters, as well as park connectors and pedestrian linkages to be flashed out within the next few years.
Under the 2014 Master Plan, the site is zoned for "commercial and residential use".
Shophouses in Joo Chiat
The five adjoining shophouses in Joo Chiat Road totals about 7,503.58 sq ft in land size and comes with a plot ratio of 3.0. This allows up to a maximum gross floor area of about 22,510.74 sq ft.
It is zoned "commercial" under the 2014 Master Plan.
The vendor, a privately held investment holding company is evaluating whether to sell the property in its freehold tenure or to sell it on a 99-year leasehold basis.
On a freehold basis, bids are expected to be in excess of S$14 million.
The vendor is soliciting bids on a freehold and 99-year basis from prospective investors and will decide the tenure disposal after closing the expression of interest process.
Source: Business Times