Strata commercial unit at Bukit Timah Plaza for sale at $11 mil
The building is in Basement Two, facing the main central plaza of the retail facility. It has 20m frontage and also a total strata location of roughly 3,391 sq ft. It is presently totally rented.
There is additionally an upcoming site under the 2H2022 GLS Program situated at Bukit Timah Link, which can produce 160 residential units.
In addition, Lee views that the rejuvenation taking place in Beauty World will likely enhance hire as well as capital appreciation for real estates in the location over the medium to long term.
Clemence Lee, executive director of funding markets, Singapore, at CBRE, marks that strata-commercial units within the Beauty World sub-precinct are reduced in supply. “Capitalists understand that supply of strata-commercial properties will certainly be limited in the future, as the authorities begin to restrict additional strata subdivision of the commercial element of real estates situated in key central locations,” he adds.
Bukit Timah Plaza is a mixed-use property that was finished in 1979. It rests on an island site bounded by the Pan-Island Expressway, Jalan Anak Bukit as well as Upper Bukit Timah Roadway. The project comprises a four-storey retail block and 2 condo blocks called Sherwood Towers, with 269 household units.
Therefore, he prepares for solid interest in the property from local and also foreign buyers, consisting of high-net-worth buyers, home offices as well as owner-occupiers.
A strata business unit with approval for restaurant use at Bukit Timah Plaza is up for sale through an expression of interest exercise. According to sole promotion representative CBRE, the unit has an overview cost of $11 million.
Approaching projects consist of a landmark mixed-use project by Far East Organization as well as Sino Group at the Jalan Anak Bukit Government Land Sales (GLS) site. The joint-venture associates won the 3.22 ha site, positioned at the junction of Upper Bukit Timah Road and Jalan Jurong Kechil, with a price of $1.03 billion ($989 psf per plot ratio) in August 2021. The development will certainly make up a retail podium, housing units, serviced condominiums, and also a brand-new incorporated transportation center.