Freehold mixed-use building in Newton up for sale at $20 mil
Michael Tay, director of capital markets in Singapore at CBRE, believes that the residential property will certainly enjoy future funding and also rental advantages, built by the continuous rejuvenation of the Orchard Road and also Novena locations. He expects solid financier attention in the property, along with attention from owner-occupiers looking for a building ideal for labeling as well as signage dues.
A five-storey estate structure situated at 200 Bukit Timah Road in District 9’s Newton precinct is up for sale with an expression of interest (EOI) exercise. The overview deal for the home is about $20 million, which works out to $2,295 psf on the complete gross flooring area (GFA), according to marketing representative CBRE.
The property is a combined industrial as well as non commercial structure that sits on a land area of around 2,083 sq ft, with a total GFA of 8,715 sq ft. It is set up with elevator accessibility throughout all five floors and has a private parking lot with 5 parking lots. (Discover Singapore commercial homes with our commercial directory site).
The entire residential property is currently rented to a vet center with staff quarters, suggesting it can give a profitable client with instant rental earnings. 200 Bukit Timah is a brief walk away from the Newton MRT Interchange Terminal on the North-South as well as Downtown Lines. It is additionally neighbored by services like the Novena Square, Square 2 and United Square shopping center, Newton Food Centre and medical-related complicated Health City Novena.
He incorporates that the effective buyer can discover a number of value-add angles to rearrange the investment, based on authorizations from the appropriate authorities. This includes using the residential property for F&B business, display room, fitness center, business university or co-living applications, among others.
The EOI exercise for 200 Bukit Timah is going to end on July 27 at 3pm.
