The owners of 8 and 10 Chang Charn Road have put the properties up for sale. This offering represents a rare opportunity to acquire a quality 6 storey building with adjoining site with redevelopment potential (subject to local authority approval) which is zoned Business 1 and located in a Central Location.
The property at 8 Chang Charn Road has showroom, warehouse and conference room on the 1st storey and mezzanine; reception, offices, pantry, warehouse and bathroom on the 2nd to 5th storey; multiple purpose hall, offices and bathroom on the 6th storey and has a built up area of approximately 34,907sq ft and sits on a site of 12,519sqft.
The adjoining redevelopment site at 10 Chang Charn Road comprises a production area which is a single storey detached factory and 2 storey office block in front, comprising office and bathroom on the first storey and office on the second storey, with a plot ratio of 2.5. The site area for 10 Chang Charn Road is 8,762sqft and total built up area is 5,274sqft.
The tenure of the property is 99 year lease which has 45 years remaining and the site is located in the sought after Chang Charn Road (which currently comprises a number of car showrooms and repair workshops) near Leng Kee Road and Redhill MRT station and easily accessible via AYE Expressway. The property is currently corporate headquarters for the owners and is fully occupied.
Jones Lang LaSalle has been appointed as exclusive marketing agents for 8 and 10 Chang Charn Road. Asking price for this property is S$45 million subject to negotiation.
Mok, Sze Sze, Head of Auctions at Jones Lang LaSalle, said “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.”