SuperBowl Jurong has been put up for sale at a indicative price of S$20 million, announced commercial real estate services firm Colliers International on Monday (Sep 14).
The 111,000-square feet entertainment complex sits at 1 and 3 Yuan Ching Road, and comprises a part-two/part-three storey block, and a pair of two-storey blocks. The property has a 30-year lease from JTC with effect from Jan 1, 2002 and the site has been zoned for commercial and residential use.
The complex is located near Jurong Country Club, where the proposed Singapore-Kuala Lumpur high-speed rail terminus will be built. The targeted completion date of the rail project has yet to be set.
SuperBowl Jurong has an occupancy rate of 99.6 per cent with tenants including SuperBowl bowling alley, Sheng Siong supermarket, and McDonald’s and Subway dining outlets, said Colliers International in a news release. It was built in 1994.
Mr Tan Boon Leong, Executive Director of Industrial Services at Colliers International, said: “SuperBowl Jurong has always been a landmark in the Yuan Ching area where it enjoys a large catchment consumer base of Yuan Ching and Jurong residents. Depending on the successful buyer’s preference, he or she can consider minor refurbishment works to give the development a refreshed look.”
Mr Tan said that the site was put up for sale because “it is no longer under the portfolio of Hiap Hoe Limited”. Hiap Hoe Limited is a regional real estate group which started the SuperBowl chain in the late 1980s. He also said that the new developer has the right to demolish the place if it wants to.
Interested parties are invited to submit their offer to Colliers International by Oct 15, 2015 at 3pm.
Source : Channel NewsAsia – 14 Sep 2015