Freehold mixed-use building in Newton up for sale at $20 mil
Michael Tay, head of funding markets in Singapore at CBRE, thinks that the property will certainly appreciate prospective capital and rentals upsides, underpinned by the continuous renewal of the Orchard Road as well as Novena places. He projects good investor interest in the real estate, along with enthusiasm from owner-occupiers trying to find an establishment ideal for calling and signage rights.
The building is a mixed industrial as well as residence building that sits on a land area of around 2,083 sq ft, with a total GFA of 8,715 sq ft. It is set up with elevator accessibility throughout all 5 floors and also has an exclusive car park with five car park. (Find Singapore industrial homes with our industrial directory).
The entire property is presently rented to a veterinary facility with personnel quarters, suggesting it can provide a profitable client with instant rental cash flow. 200 Bukit Timah is a brief walk away from the Newton MRT Interchange Station on the North-South and also Downtown Lines. It is also surrounded by amenities like the Novena Square, Square 2 as well as United Square shopping malls, Newton Food Centre and also medical care complicated Health City Novena.
A five-storey property structure situated at 200 Bukit Timah Street in District 9’s Newton precinct is up for sale through an expression of interest (EOI) exercise. The overview cost for the building is about $20 million, which comes out to $2,295 psf on the total gross floor area (GFA), according to marketing representative CBRE.
He incorporates that the successful purchaser can check out several value-add angles to shift the asset, based on authorizations from the pertinent authorities. This consists of using the home for F&B establishments, showroom, fitness center, industrial school or co-living applications, among others.
The EOI exercise for 200 Bukit Timah will finalize on July 27 at 3pm.