SINGAPORE (THE BUSINESS TIMES) - The building that served as the headquarters of failed luxury marketplace Reebonz has been put on the market for an undisclosed amount.
The move comes about half a year after Reebonz went into creditors' voluntary liquidation.
JLL is the exclusive marketing agent for the sale of Reebonz Building, located at 5 Tampines North Drive 5. The tender will close at noon on May 5, it announced on Tuesday (April 5).
In October last year, The Straits Times reported that Reebonz Building would be put on the market after the asset was mortgaged to a bank and receivers were appointed for its sale.
The luxury marketplace had made headlines last year for owing sellers on its platform about $79,000 as at Sept 13 last year. There were also complaints from buyers about inauthentic items and the poor quality of its pre-owned luxury bags and jewellery.
Reebonz appointed a provisional liquidator to wind up the company as it buckled under liabilities estimated to be about $65 million.
Completed in 2016 with a prominent frontage along Tampines Ave 11, the Reebonz Building has a total gross floor area of approximately 215,255 sq ft.
It sits on a land plot spanning about 86,111 sq ft, with a remaining tenure of about 22 years. The site is zoned "Business 1" for light and clean industrial use under the Master Plan 2019 and has a plot ratio of 2.5.
The eight-storey ramp-up building has an ancillary office, warehousing and production spaces, and carpark facilities. It also houses an approved industrial canteen and a childcare centre.
On the building's specifications, JLL Singapore senior director of capital markets Nicholas Ng noted that it has an "excellent configured area" with a large floor plate and a high ceiling of about 4.5m to 8m, allowing the user to easily optimise the space.
JLL Singapore head of logistics and industrial capital markets Pamela Siow said the property would benefit users needing a place to move into and future expansion.
Reebonz had used the first, second and seventh storeys of the building, while other floors were occupied by tenants such as supply chain solutions firm Vallen Singapore and logistics company J&T Express.
