Sale of Big Box mall in Jurong East launched

The receivers and managers of Big Box Pte Ltd are conducting an expression of interest (EOI) exercise for its Big Box mall in Jurong East.

It has a remaining land tenure of 30 years from March 23, 2007 (18 years unexpired). The site area is approximately 606,639 sq ft, and total gross floor area is about 1.4 million sq ft.

The eight-storey mall was constructed in 2014 and originally used as part of a warehouse retail scheme. The building is now approved for "Business 1" or B1 industrial usage and will be offered with mostly vacant possession.

It has ceiling heights ranging from 5m to 18m and total useable area of above one million sq ft on large floor plates.

It is interconnected to surrounding buildings such as Jem, and to Jurong East MRT station via underground walkways. There are 1,726 carpark spaces.

JLL, which is conducting the EOI exercise, said that should corporates with e-commerce and technology platforms, large-scale logistics operators and third-party service providers be interested in the site, they can immediately ramp up operations in an area that will benefit from its proximity to Jurong Port and the Jurong Lake District.

The EOI exercise will be launched today, with bids due on May 23. It follows a voluntary liquidation by Big Box initiated last September, and approval of a credit restructuring scheme for TT International, which owns 51 per cent of Big Box.

A version of this article appeared in the print edition of The Straits Times on April 09, 2019, with the headline 'Expression of interest exercise launched for Big Box mall'. Print Edition | Subscribe