JTC Renewal of Lease

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JTC Renewal of Lease - Alliance Facilities Management Pte Ltd

Alliance Facilities Management Pte Ltd is a trusted partner for businesses seeking to renew their JTC leases in Singapore. We understand the intricacies and challenges of the JTC Lease Renewal process and are committed to making this journey seamless and efficient for our clients. Our expert guidance ensures that your application is in perfect alignment with JTC's requirements and regulations.

Frequently Asked Questions (FAQs)

Question: What is JTC Lease Renewal?

Answer: JTC Lease Renewal refers to the granting of a new lease term following the expiry of the current one, allowing lessees to continue their operations. This is not automatic but subject to a review process that assesses several criteria, including the strength of business and redevelopment plans, proposed usage, and alignment with government redevelopment plans.

Question: How does JTC Assess Lease Renewal Applications?

Answer: JTC evaluates applications based on the economic contribution of the project, the potential for job creation, synergy with other economic sectors, and land use optimization. Compliance with the Urban Redevelopment Authority’s space utilization rules and fulfillment of proposed investments are also key considerations.

Question: When Should Lessees Apply for JTC Lease Renewal?

Answer: JTC Lessees are advised to engage with their JTC Customer Engagement Officer and apply for JTC lease renewal, typically six years and no later than three years before their current lease expires.

Question: What is the Maximum Lease Term that can be Extended Upon Renewal?

Answer: Successful lease renewal applications may be granted a maximum term of up to 20 years, dependent on the strength of the business and redevelopment plans and the applicant's ability to fulfill those plans.

Question: Why Engage Alliance Facilities Management Pte Ltd for Your JTC Lease Renewal Application?

Answer: 

Alliance Facilities Management Pte Ltd, a premier professional consultancy firm based in Singapore, is the ideal partner to assist you with your JTC lease renewal application. 

Here's why you should choose us:

Performance-Based Consultancy Fee: At Alliance Facilities Management, we believe in delivering results before receiving payment. That's why our consultancy fee is payable only upon the successful approval of your lease renewal application by JTC. With this arrangement, you can engage our services without any upfront financial commitment, providing you with peace of mind and confidence in our capabilities.

Expertise in the Industrial Property Sector: Our company specializes in serving clients in the industrial property sector, catering to both multinational corporations and small and medium-sized enterprises. With our deep understanding of the industry and extensive knowledge of JTC lease renewal requirements, we are well-equipped to navigate the complexities of the process on your behalf.

Comprehensive Suite of Services: We offer a comprehensive suite of services that covers every aspect of the lease renewal application process. From initial consultations to gathering the necessary documents, preparing business plans, and justifying your expansion needs to the authorities, we handle it all. Our aim is to streamline the entire process for you, ensuring a smooth and efficient application.

Experienced Team of Professionals: Our team consists of experienced professionals who have a wealth of knowledge in the field of industrial property and lease renewal applications. We understand the unique challenges and requirements of JTC, and we leverage our expertise to develop compelling business plans and justifications that maximize your chances of approval.

Customer-Centric Approach: We prioritize our clients' needs and objectives throughout the entire engagement process. Our team takes the time to understand your specific requirements and tailor our services accordingly. We are committed to providing personalized attention, regular communication, and timely updates, ensuring that you are well-informed and involved at every stage.

By engaging Alliance Facilities Management Pte Ltd, you can expect a seamless and efficient experience in your JTC lease renewal application. We are dedicated to delivering the best outcomes for our clients and supporting their expansion plans in Singapore. Contact us today to discuss your lease renewal needs and benefit from our industry knowledge, expertise, and customer-centric approach.

Question: What Information is Required when Applying for JTC Lease Renewal?

Answer: Applicants should provide a detailed business and redevelopment plan, fixed asset investments, gross plot ratio, job creation projections, and financial projections. JTC holds applicants accountable for the details provided, with audits conducted at the end of the investment period.

Question: When can Applicants Expect a Reply From JTC?

Answer: JTC aims to inform applicants of the outcome within three months after receiving all required information for the application.

Question: What are the Key Terms and Conditions for JTC Lease Renewal?

Answer: Terms include a revision of land rent to current rates or an option to pay an upfront land premium, a building premium for JTC-owned buildings, compliance with investment commitments within a stipulated period, and adherence to mandatory solar requirements for eligible sites.

Question: What Fees and Charges are Associated with JTC Lease Renewal?

Answer: Lessees will need to pay land rent or land premium, a building premium for JTC-owned buildings, and other charges such as survey and legal fees. Details of these charges are communicated in the offer letter.

Question: Are There Environmental Baseline or Solar Requirements for Lease Renewal?

Answer: An Environmental Baseline Study (EBS) may be required to assess site contamination levels. For solar requirements, new and renewed leases with sufficient rooftop space and a lease period of 15 years or more must deploy solar panels.

Question: What Investments Qualify as Plant and Machinery (P&M) for JTC Lease Renewal Purposes?

Answer: Investments in P&M are capital expenses on operational items like industrial air-conditioning units, manufacturing and processing equipment, and material handling machinery. These investments are critical for operational efficiency and are considered when evaluating lease renewals.

Question: Are there Exclusions to what Can Be Considered as P&M Investments?

Answer: Yes, items that are not directly used in the production process such as office furniture, standard office IT equipment, and vehicles like cars and motorbikes, are excluded from P&M investments.

Question: How does JTC Evaluate the Contribution to Job Creation and Economic Value in Lease Renewals?

Answer: JTC considers the number of jobs created, the types of roles, and the projected revenue and cost figures. These factors reflect the business's impact on the economy and its potential for growth.

Question: How are Building and Civil (B&C) Works Evaluated in Lease Renewals?

Answer: B&C investments include costs associated with the construction of the building and related civil works, professional fees, and renovation works that do not include furniture. These investments demonstrate the lessee's commitment to developing the site and are considered when assessing lease renewals.

Question: What are the Urban Design Requirements for Lease Renewal?

Answer: Developments must comply with Urban Design Guidelines, which include creating a quality working environment, ensuring good site planning, aesthetically pleasing building façades, and incorporating greenery to enhance sustainability and visual appeal.

Question: What Happens if the Lessee Fails to Meet the Investment Criteria?

Answer: If there is a discrepancy between the committed and actual figures of gross plot ratio and investments in plant and machinery, the lease term will be pro-rated accordingly. This ensures that lessees deliver on their investment promises in exchange for the lease renewal.

Question: What is the Procedure if My Lease Renewal Application is Approved?

Answer: Once your lease renewal is approved, you will be given three years from the date of the offer letter to complete the proposed building works and fulfill your committed fixed asset investments. Necessary documents such as a temporary occupation license, a certified audited statement of costs on plant and machinery, and a qualified person's certification must be submitted to confirm your lease entitlement.

Question: What are the Restrictions on Assigning the Lease?

Answer: There is an assignment prohibition period where the lessee cannot assign the lease. This period is minimally 5 years from the fulfillment of investment criteria or 3 years from the commencement of the new lease term, whichever is later. Additionally, the lease cannot be assigned in the last 5 years of the term.

The Information Listed Above Is To Be Used As A Reference Only.

The information listed above is to be used as a reference resource for your personal consumption only. It is not intended to be and does not constitute financial advice, investment advice or any other advice, All applications are subject to final approval by JTC at JTC's discretion (including any terms and conditions that JTC may in its discretion impose with such final approval). While every endeavour has been made to ensure that the information provided herein is correct, ALLIANCE FACILITIES MANAGEMENT PTE LTD disclaims liability for any damage or loss that may be caused as a result of any error or omission.

JTC Industrial Property – Market Research Reports

Our Key Services Include:

Our key services include:

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