Six-floor carpark at Textile Centre for sale at $36 mil

The carpark comprises 685 car parking spaces plus 40 motorcycle lots. The overall strata area accounts for approximately 30% of the overall strata area of the development. By share worth, this is about 1.02% of the whole property. The rest of the building includes a seven-storey retail podium with 150 retail units, 6 business office floors with 63 workplace units, as well as 12 non commercial floors that place 132 units.

According to JLL, carparks are a resistant asset class with secure repeating income as well as reasonably minimal servicing and also operating expense. The carpark is currently taken care of by Mack Parking. Strata-titled carparks rarely enter onto the marketplace, without any additional source in the pipe, offered restrictions on the strata community of communal carparks, adds JLL.

The building will certainly be offered in a nonpublic treaty sale and also is showcased by Terry Wong and Alaric Yeo, higher director and also higher supervisor, specifically, of JLL’s funding markets professionals

The six-floor strata-titled carpark at Textile Centre has already been put up for transaction with a guide rate of $36 million. According to the marketing representative, JLL, this transaction includes a nearby plot of business land that is made use of as the carpark’s driveway.

Liv@MB showflat location

The 200,456 sq ft carpark spans the third to seventh floors of Fabric Centre, itself a 25-storey, mixed-use property at 200 Jalan Sultan in District 7. Fabric Centre positions at a famous main location in the Beach Road place, at the junction of Jalan Sultan and North Bridge Roadway.

The building is beside the Kampong Glam conservation area, which makes up dining establishments, restaurants, retail stores, and entertainment locations. Other profitable projects in the vicinity consist of City Gate, The Concourse, Parkroyal on Beach Road, along with Duo.

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