Freehold mixed-use building in Newton up for sale at $20 mil
The home is a combined commercial as well as household structure that remains on a land area of approximately 2,083 sq ft, with a complete GFA of 8,715 sq ft. It is set up with lift access across all five floors and has a private car park with five parking lots. (Locate Singapore industrial properties with our business directory site).
The whole property is currently rented to a veterinary center with team quarters, implying it can supply an excellent client with immediate rental cash flow. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Terminal on the North-South as well as Downtown Lines. It is likewise bordered by services like the Novena Square, Square 2 and United Square shopping center, Newton Food Centre and also health care complicated Health City Novena.
A five-storey freehold structure nestled at 200 Bukit Timah Street in Area 9’s Newton precinct is up for sale through an expression of interest (EOI) exercise. The overview deal for the building is around $20 million, which works out to $2,295 psf on the complete gross flooring area (GFA), according to promotion agent CBRE.
Michael Tay, director of capital markets in Singapore at CBRE, thinks that the home will enjoy possible capital and rentals benefits, set up by the continuous restoration of the Orchard Road as well as Novena locations. He assumes strong capitalist interest in the residential property, besides enthusiasm from owner-occupiers searching for a property suitable for labeling and also signs dues.
He includes that the effective buyer can discover a number of value-add angles to shift the asset, based on approvals from the relevant authorities. This consists of using the property for F&B establishments, display room, health club, commercial academic institution or co-living goals, amongst others.
The EOI exercise for 200 Bukit Timah is going to end on July 27 at 3pm.