Six-floor carpark at Textile Centre for sale at $36 mil
The 200,456 sq ft carpark covers the third to seventh floorings of Fabric Centre, in itself a 25-storey, mixed-use property at 200 Jalan Sultan in Area 7. Textile Centre positions at a popular core place within the Beach Road place, at the junction of Jalan Sultan and North Bridge Road.
The building will be marketed in a nonpublic treaty deal and is showcased by Terry Wong including Alaric Yeo, top supervisor and higher supervisor, respectively, of JLL’s financing markets organization
The carpark makes up 685 car parking spaces also 40 motorbike lots. The overall strata area accounts for approximately 30% of the complete strata place of the development. By share worth, this is about 1.02% of the complete development. The remainder of the structure includes a seven-storey store platform with 150 retail units, six business office levels with 63 workplace units, and 12 home floors that place 132 units.
The commercial property is next to the Kampong Glam sanctuary, that consists of restaurants, dining establishments, retail stores, as well as recreation venues. Some other profitable developments around consist of City Gate, The Concourse, Parkroyal on Beach Roadway, along with Duo.
The six-floor strata-titled carpark at Fabric Centre has been put up for transaction with a guide rate of $36 million. According to the marketing broker, JLL, this specific deal consists of an adjacent plot of business land which is utilised as the carpark’s driveway.
According to JLL, carparks are a sturdy possession class with steady reoccuring income and also relatively low servicing and even operating costs. The carpark is presently taken care of by Mack Parking. Strata-titled carparks rarely come onto the market, with no additional supply in the pipeline, provided restrictions on the strata subdivision of public carparks, includes JLL.