Strata commercial unit at Bukit Timah Plaza for sale at $11 mil
Forthcoming properties consist of a site mixed-use property by Far East Organization and Sino Group at the Jalan Anak Bukit Government Land Sales (GLS) site. The joint-venture associates won the 3.22 ha site, based at the junction of Upper Bukit Timah Road as well as Jalan Jurong Kechil, with a price of $1.03 billion ($989 psf per plot ratio) in August 2021. The property will certainly make up a commercial podium, housing units, serviced flats, as well as a brand-new integrated transportation center.
On top of that, Lee sees that the rejuvenation taking place in Beauty World will likely increase rental as well as funding appreciation for properties in the area over the medium to long term.
There is likewise an upcoming site under the 2H2022 GLS Programme located at Bukit Timah Link, which can produce 160 house units.
The building remains in Basement Two, crossing the primary central plaza of the retail facility. It has 20m frontage and also a total strata location of roughly 3,391 sq ft. It is currently fully leased.
A strata commercial unit favorably for diner usage at Bukit Timah Plaza is up for sale using an expression of interest exercise. According to single advertising representative CBRE, the unit has an overview price of $11 million.
Bukit Timah Plaza is a mixed-use property that was completed in 1979. It remains on an island site bounded by the Pan-Island Expressway, Jalan Anak Bukit and also Upper Bukit Timah Roadway. The development comprises a four-storey retail block as well as 2 flat blocks called Sherwood Towers, with 269 residential units.
Therefore, he expects strong attraction in the real estate from local area as well as overseas buyers, involving high-net-worth individuals, home workplaces and also owner-occupiers.
Clemence Lee, executive supervisor of capital markets, Singapore, at CBRE, marks that strata-commercial units within the Beauty World sub-precinct are limited in supply. “Capitalists are aware that supply of strata-commercial properties will be limited in the future, as the authorities start to restrict more strata community of the commercial element of houses located in crucial main locations,” he adds.