Freehold mixed-use building in Newton up for sale at $20 mil
Michael Tay, head of resources markets in Singapore at CBRE, thinks that the home will take pleasure in possible capital and leasing advantages, set up by the continuous revival of the Orchard Road and also Novena places. He expects strong financier attention in the building, in addition to curiosity from owner-occupiers looking for a property perfect for calling and signs dues.
He adds that the effective customer can explore a number of value-add angles to shift the investment, based on authorizations from the appropriate authorities. This consists of making use of the building for F&B establishments, showroom, gym, commercial university or co-living reasons, amongst others.
A five-storey property building located at 200 Bukit Timah Street in District 9’s Newton precinct is up for sale through an expression of interest (EOI) exercise. The guide deal for the apartment is roughly $20 million, which comes out to $2,295 psf on the overall gross floor area (GFA), according to marketing representative CBRE.
The real estate property is a combined commercial and residential structure that remains 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 five levels and has a personal car park with five car park. (Find Singapore industrial homes with our industrial directory site).
The entire building is presently rented to a veterinary facility with personnel quarters, implying it can supply a successful customer with prompt rental income. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Terminal on the North-South and Downtown Lines. It is also neighbored by facilities like the Novena Square, Square 2 and also United Square shopping center, Newton Food Centre and medical care complicated Health City Novena.
The EOI exercise for 200 Bukit Timah is going to finalize on July 27 at 3pm.