Freehold mixed-use building in Newton up for sale at $20 mil
The building is a mixed commercial as well as residential structure that sits on a land area of around 2,083 sq ft, with a complete GFA of 8,715 sq ft. It is set up with lift accessibility across all five floors and has a private car park with 5 parking area. (Look for Singapore business buildings with our commercial directory).
Michael Tay, head of resources markets in Singapore at CBRE, thinks that the residential property will certainly appreciate future funding and also rentals upsides, underpinned by the continuous rejuvenation of the Orchard Road and also Novena parts. He anticipates good capitalist interest in the real estate, aside from interest from owner-occupiers looking for a property ideal for identifying and signs dues.
The whole residential property is currently rented to a vet center with personnel quarters, meaning it can give an effective customer with instant 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 likewise encircled by features like the Novena Square, Square 2 as well as United Square shopping malls, Newton Food Centre as well as medical care complex Health City Novena.
A five-storey property building located at 200 Bukit Timah Street in Area 9’s Newton precinct is up for sale through an expression of interest (EOI) exercise. The guide cost for the building is around $20 million, which comes out to $2,295 psf on the overall gross floor area (GFA), according to marketing representative CBRE.
He adds that the successful purchaser can check out numerous value-add angles to reposition the investment, subject to approvals from the pertinent authorities. This includes using the residential property for F&B business, showroom, gym, business college or co-living functions, among others.
The EOI exercise for 200 Bukit Timah is going to close on July 27 at 3pm.