Freehold mixed-use building in Newton up for sale at $20 mil
The residential property is a mixed industrial and also household building that remains on a land area of around 2,083 sq ft, with an overall GFA of 8,715 sq ft. It is equipped with elevator access across all 5 levels and has a private parking area with five parking lots. (Look for Singapore business buildings with our business directory site).
A five-storey property building located at 200 Bukit Timah Street in District 9’s Newton precinct is up for sale with an expression of interest (EOI) exercise. The guide rate for the apartment is roughly $20 million, which comes out to $2,295 psf on the complete gross flooring area (GFA), according to advertising representative CBRE.
Michael Tay, director of capital markets in Singapore at CBRE, believes that the apartment will certainly delight in future funding as well as leasing benefits, set up by the continuous restoration of the Orchard Road and Novena parts. He anticipates solid financier interest in the real estate, along with enthusiasm from owner-occupiers seeking a structure ideal for calling and also signage rights.
The entire building is currently leased to a veterinary centre with team quarters, implying it can provide an excellent customer with immediate rental revenue. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Terminal on the North-South and also Downtown Lines. It is likewise neighbored by features like the Novena Square, Square 2 as well as United Square mall, Newton Food Centre as well as medical care complex Health City Novena.
He incorporates that the successful buyer can check out a number of value-add angles to shift the asset, subject to authorizations from the relevant authorities. This includes using the home for F&B establishments, showroom, health club, industrial university or co-living purposes, amongst others.
The EOI exercise for 200 Bukit Timah will close on July 27 at 3pm.