Six-floor carpark at Textile Centre for sale at $36 mil
The building is alongside the Kampong Glam sanctuary, that comprises restaurants, eateries, retail outlets, and entertainment places. Other profitable projects around consist of City Gate, The Concourse, Parkroyal on Beach Roadway, and even Duo.
The real estate will be offered in a private treaty sale and is promoted by Terry Wong and Alaric Yeo, top director and higher manager, specifically, of JLL’s financing markets professionals
The carpark comprises 685 car garage also 40 bike lots. The complete strata area represent about 30% of the complete strata place of the project. By share value, this is about 1.02% of the entire property. The remainder of the structure consists of a seven-storey retail platform with 150 retail units, 6 business office storeys with 63 office units, as well as 12 residential levels that place 132 units.
According to JLL, carparks are a sturdy asset class with stable repeating revenue and reasonably affordable servicing and operating costs. The carpark is currently managed by Mack Parking. Strata-titled carparks seldom enter onto the market, without extra source in the pipeline, given limitations on the strata class of communal carparks, includes JLL.
The six-floor strata-titled carpark at Fabric Centre has recently been put up for deal with an overview cost of $36 million. According to the marketing representative, JLL, this sale consists of a nearby plot of business land which is used as the carpark’s driveway.
The 200,456 sq ft carpark covers the third to seventh floors of Fabric Centre, in itself a 25-storey, mixed-use structure at 200 Jalan Sultan in Area 7. Fabric Centre positions at a noticeable main area in the Beach Route place, at the link of Jalan Sultan and even North Bridge Road.