Freehold mixed-use building in Newton up for sale at $20 mil
Michael Tay, head of capital markets in Singapore at CBRE, believes that the property will enjoy possible capital as well as leasing upsides, underpinned by the recurring restoration of the Orchard Road as well as Novena locations. He assumes solid investor interest in the property, in addition to interest from owner-occupiers trying to find a property ideal for calling and signage rights.
A five-storey property building situated 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 works out to $2,295 psf on the whole gross flooring area (GFA), according to advertising agent CBRE.
He adds that the effective home buyer can check out numerous value-add angles to rearrange the asset, subject to authorizations from the pertinent authorities. This consists of making use of the residential property for F&B buildings, showroom, health club, business school or co-living functions, amongst others.
The whole home is currently leased to a veterinary center with staff quarters, meaning it can provide an effective purchaser with instant rental cash flow. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Station on the North-South and also Downtown Lines. It is likewise surrounded by services like the Novena Square, Square 2 as well as United Square mall, Newton Food Centre and medical care complex Health City Novena.
The home is a combined industrial and also non commercial building that rests on a land area of around 2,083 sq ft, with a total GFA of 8,715 sq ft. It is provided with elevator accessibility across all five floors and has a personal parking area with 5 car park. (Find Singapore business residential properties with our industrial directory site).
The EOI exercise for 200 Bukit Timah is going to finalize on July 27 at 3pm.