Freehold mixed-use building in Newton up for sale at $20 mil
The home is a mixed industrial and also non commercial building that sits on a land area of around 2,083 sq ft, with a total GFA of 8,715 sq ft. It is provided with elevator access throughout all 5 floors as well as has a private car park with five parking area. (Discover Singapore industrial apartments with our business directory).
A five-storey property structure nestled at 200 Bukit Timah Road in District 9’s Newton district is up for sale with an expression of interest (EOI) exercise. The overview value for the home is roughly $20 million, which comes out to $2,295 psf on the total gross flooring area (GFA), according to promotion representative CBRE.
The entire property is currently rented to a veterinary centre with team quarters, suggesting it can provide an excellent client with instant rental cash flow. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Station on the North-South and Downtown Lines. It is additionally encircled by amenities like the Novena Square, Square 2 as well as United Square shopping malls, Newton Food Centre and medical-related facility Health City Novena.
Michael Tay, director of funding markets in Singapore at CBRE, thinks that the building will certainly enjoy prospective capital and rental advantages, built by the ongoing renewal of the Orchard Road and Novena areas. He expects solid investor interest in the residential property, besides curiosity from owner-occupiers searching for a structure ideal for labeling and signs dues.
He incorporates that the effective investor can check out several value-add angles to rearrange the investment, based on authorizations from the appropriate authorities. This includes utilizing the residential property for F&B business, showroom, fitness center, commercial institution or co-living reasons, among others.
The EOI exercise for 200 Bukit Timah is going to finalize on July 27 at 3pm.
