Skip Ribbon Commands
Skip to main content

News Releases

Singapore

Rare Opportunity to Acquire Freehold Commercial Office Building

For Sale by Expressions of Interest closing by mid August 2012


 

 

SINGAPORE, 2 July 2012 Jones Lang LaSalle has been appointed as the exclusive marketing agent on behalf of NOL Group for the sale of NOL Building through an expressions of interest campaign.
 
NOL Building comprises 26-stories and is located at 456 Alexandra Road in the heart of the Alexandra office precinct, within proximity to the HarbourFront precinct and a short drive to the Central Business District. Surrounding buildings include PSA Building & Alexandra Retail Centre, Mapletree Business City, Alexandra Point, Alexandra Technocentre, The Comtech and UOB Centre.
 
NOL Building sits on a commercial zoned site of 108,060 sq ft with a gross floor area of 294,500 sq ft, an existing net lettable area of 207,505 sq ft and 276 car park lots in a separate podium. NOL Group currently occupies 90% of the building and is expected to leaseback the premises.
 
Ashish Manchharam, Head of Investments South East Asia, at Jones Lang LaSalle comments: “NOL Building provides an excellent opportunity to acquire a large freehold office building, in a well established decentralised office precinct, with asset enhancement and future redevelopment potential by maximising building efficiency and plot ratio. This offering provides the ability to capture the growing demand from occupiers seeking cost effective, decentralised office space and for developers to tap on demand in the commercial strata space. Large commercial freehold opportunities of this nature rarely come to the market and we expect strong interest in NOL Building through this sale campaign.”
 

 

 
 
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management.
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 22,200 employees operating in 79 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was highly commended in a further three countries. For further information, please visit www.ap.joneslanglasalle.com