Nursing home on Sims Avenue for sale at $27 mil

The property rises simply off the exit of the Kallang-Paya Lebar Expressway. The bordering neighbourhood mainly makes up shophouses as well as light commercial buildings situated around Sims Avenue and also Geylang Roadway. Lock feels the real estate will gather attention from purchasers within healthcare-related sectors, including clinical companies, hospital or assisted living treatment providers, or various other assisted living home owners. “It’s fairly rare for a site zoned for wellness and healthcare to go up for sale,” she remarks.

An assisted living facility located around Sims Avenue will be set up for auction on March 16 with an overview price of $27 million. It is a property owner’s sale, says Lock Sau Lai, senior supervisor, auction & sales at Knight Frank, who is dealing with the public auction also is the single advertising and marketing agency for the real property.

The building currently has communal spaces on the first flooring, consisting of the kitchen area and eating area, an activity space, a local library, a staff canteen and even a workplace area. Wards together with private spaces stand on the upper levels, whereas the basement homes educating rooms and a rehabilitation centre. The building includes a lift that services all levels along with enough personal parking area, includes Lock.

Klimt Cairnhill Low Keng Huat

Based on the total floor location, the overview price figures out to be around $2,278 psf. The building is currently being run by the proprietors as Charis Manor Nursing Home, a private establishment that provides permanent keep, respite services as well as childcare programs for the elderly. According to Lock, the proprietors are looking to market the commercial property on a sale and leaseback contract. The customer of the building will definitely rent the property to the owner for three years, with a possible extension for another 2 years.

In Addition To Charis Manor, the operators likewise control CSM Academy International, a private education institution being experts in health care services as well as health worker training.

The real estate is a four-storey detached building with a cellar. It has a total floor area of about 11,859 sq ft. The real estate sits on a freehold acreage of 6,350 sq ft which is zoned for health plus medical care usage under the 2019 URA Master Plan. Property with this zoning is designated for medical facilities, polyclinics and assisted living home.

error: Content is protected !!