NOL Building is up for lease

The headquarters of Neptune Orient Lines Ltd. (NOL) stand in Singapore, on Friday, March 19, 2010. THE NOL Building at 456 Alexandra Road is up for lease, said property agency Jones Lang LaSalle on Feb 10. -- FILE PHOTO: BLOOMBERG
The headquarters of Neptune Orient Lines Ltd. (NOL) stand in Singapore, on Friday, March 19, 2010. THE NOL Building at 456 Alexandra Road is up for lease, said property agency Jones Lang LaSalle on Feb 10. -- FILE PHOTO: BLOOMBERG

THE NOL Building at 456 Alexandra Road is up for lease, said property agency Jones Lang LaSalle on Feb 10.

The agency has been appointed by property firm Fragrance Group to lease the freehold property, as its plans are hold it for long-term rental income.

Fragrance bought the 26-storey office tower from container shipping firm Neptune Orient Lines (NOL) in 2012.

The NOL Building has more than 200,000 sq ft net lettable area of office space that will be available to tenants from July 1.

In a statement, Jones Lang LaSalle said that the building has a "very high car parking ratio" with 276 car park lots.

It added that a single large tenant looking for branding and naming rights may also find it attractive.

"It is hard to come by a freehold property with such a large land area of about 108,000 sq ft," Mr Koh Wee Meng, executive chairman and chief executive of Fragrance Group, said in a statement.

Mr Chris Archibold, head of markets at Jones Lang LaSalle, said: "We are confident that 456 Alexandra Road will see strong leasing interest due to the amenities in the area. Office vacancy is currently low and there is a distinct lack of non-central business district supply which will also benefit the leasing."

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