Global real estate services firm Jones Lang LaSalle (JLL) has been appointed by JTC Corporation to manage the sale by auction of three properties, including two petrol stations located at 302 and 400 Jalan Ahmad Ibrahim and a bank branch located at 325 Boon Lay Place.
The property at 302 Jalan Ahmad Ibrahim is located next to the Sheng Siong Building, and includes a petrol station with a carwash and convenience store. It has a total land area of 2,746 sq m and a gross floor area of approximately 1,079 sq m.
The property at 400 Jalan Ahmad Ibrahim also includes a petrol service station with a carwash and convenience store. It is located in an industrial estate next to the CTS building, and has a total land area of 2,257 sq m with a gross floor area of about 1,017 sq m.
Both petrol stations have a 20-year leasehold period starting from 1 April 2011.
Meanwhile, the three-storey building at the junction of Boon Lay Place and Boon Lay Drive is currently used as a bank branch. It has a total land area of 1,299 sq m with a gross floor area of about 1,642 sq m, and is surrounded by HDB flats.
The property has a 10-year leasehold period effective from 1 July 2011.
Ms. Mok Sze Sze of JLL said they have “received strong interest in these properties to date, and are expecting much competition on auction day. Throughout 2010, we have seen renewed activity in the sale of non-residential properties at auction. To date, 28 non-residential properties were sold at auction, reaching a total of $57.058 million.”
All properties will be put up for auction on December 15 at the Amara Hotel, Connection 1 (level 3).