Freehold mixed-use building in Newton up for sale at $20 mil
The residential property is a combined commercial and non commercial establishment that remains on a land area of around 2,083 sq ft, with a complete GFA of 8,715 sq ft. It is equipped with elevator accessibility over all five levels and also has a personal parking lot with 5 parking area. (Look for Singapore commercial buildings with our commercial directory site).
He includes that the successful buyer can explore a number of value-add angles to rearrange the possession, based on approvals from the appropriate authorities. This includes making use of the apartment for F&B establishments, display room, gym, business school or co-living functions, among others.
A five-storey freehold structure nestled at 200 Bukit Timah Street in District 9’s Newton precinct is up for sale through an expression of interest (EOI) exercise. The guide value for the property is roughly $20 million, which works out to $2,295 psf on the total gross floor area (GFA), according to advertising agent CBRE.
Michael Tay, head of resources markets in Singapore at CBRE, thinks that the home will certainly appreciate long term funding and also leasing upsides, underpinned by the recurring revival of the Orchard Road and Novena areas. He expects strong capitalist interest in the real estate, along with curiosity from owner-occupiers trying to find an establishment suitable for calling as well as signs rights.
The entire residential property is currently rented to a veterinary facility with staff quarters, indicating it can supply a successful client with immediate rental earnings. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Station on the North-South and Downtown Lines. It is additionally surrounded by facilities like the Novena Square, Square 2 as well as United Square mall, Newton Food Centre as well as medical care complicated Health City Novena.
The EOI exercise for 200 Bukit Timah will close on July 27 at 3pm.