Freehold mixed-use building in Newton up for sale at $20 mil
The home is a combined industrial and non commercial building that sits on a land area of about 2,083 sq ft, with a total GFA of 8,715 sq ft. It is equipped with elevator access over all five floors and also has a private parking lot with five parking area. (Look for Singapore industrial properties with our commercial directory).
He includes that the effective buyer can explore numerous value-add angles to shift the possession, subject to authorizations from the appropriate authorities. This includes using the property for F&B establishments, display room, gym, industrial college or co-living goals, amongst others.
A five-storey property building nestled at 200 Bukit Timah Street in Area 9’s Newton precinct is up for sale with an expression of interest (EOI) exercise. The overview price for the building is approximately $20 million, which comes out to $2,295 psf on the total gross floor area (GFA), according to promotion representative CBRE.
Michael Tay, director of resources markets in Singapore at CBRE, thinks that the property will delight in prospective funding and leasing advantages, underpinned by the recurring rejuvenation of the Orchard Road as well as Novena locations. He expects good investor attention in the residential property, besides attention from owner-occupiers searching for an establishment perfect for naming and also signage rights.
The whole apartment is currently rented to a vet centre with team quarters, indicating it can supply a successful purchaser with instant rental revenue. 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 encircled by facilities like the Novena Square, Square 2 and United Square shopping center, Newton Food Centre and also healthcare complicated Health City Novena.
The EOI exercise for 200 Bukit Timah will close on July 27 at 3pm.
