Freehold mixed-use building in Newton up for sale at $20 mil
Michael Tay, head of capital markets in Singapore at CBRE, thinks that the property will take pleasure in prospective capital and leasing advantages, set up by the continuous restoration of the Orchard Road and Novena parts. He anticipates good investor interest in the residential property, besides attention from owner-occupiers trying to find a structure suitable for calling and also signs dues.
A five-storey freehold structure situated at 200 Bukit Timah Road in Area 9’s Newton district is up for sale with an expression of interest (EOI) exercise. The overview cost for the building is around $20 million, which works out to $2,295 psf on the overall gross floor area (GFA), according to marketing representative CBRE.
He adds that the successful customer can discover numerous value-add angles to shift the property, based on authorizations from the appropriate authorities. This includes using the property for F&B facilities, display room, fitness center, commercial school or co-living functions, among others.
The EOI exercise for 200 Bukit Timah is going to finalize on July 27 at 3pm.
The whole residential property is presently leased to a veterinary centre with team quarters, implying it can offer an excellent buyer with immediate rental earnings. 200 Bukit Timah is a brief walk away from the Newton MRT Interchange Station on the North-South and also Downtown Lines. It is likewise bordered by facilities like the Novena Square, Square 2 and also United Square shopping malls, Newton Food Centre and also healthcare complicated Health City Novena.
The building is a combined industrial and also household structure that remains on a land area of around 2,083 sq ft, with a complete GFA of 8,715 sq ft. It is set up with elevator accessibility throughout all five floors and also has an exclusive parking area with five parking area. (Discover Singapore business buildings with our commercial directory).