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

The carpark makes up 685 vehicle parking spaces plus 40 motorbike lots. The total strata area represent around 30% of the overall strata location of the property development. By share market value, this has to do with 1.02% of the entire development. The remainder of the structure consists of a seven-storey retail store platform with 150 retail units, six office levels with 63 workplace units, and 12 residential floors that place 132 units.

The six-floor strata-titled carpark at Textile Centre has already been offered with an overview cost of $36 million. According to the promotion broker, JLL, this specific sale includes an adjacent plot of commercial land which is made use of as the carpark’s driveway.

The 200,456 sq ft carpark covers the 3rd to 7th floorings of Textile Centre, itself a 25-storey, mixed-use property at 200 Jalan Sultan in District 7. Fabric Centre rests at a noticeable core location at the Beach Road location, at the junction of Jalan Sultan and also North Bridge Roadway.

The Arden Phoenix Avenue

The real estate will certainly be offered in a private treaty deal as well as is marketed by Terry Wong and Alaric Yeo, top director and also senior supervisor, respectively, of JLL’s funding markets professionals

According to JLL, carparks are a resilient property class with secure recurring income and also reasonably affordable routine service and even operating expense. The carpark is currently handled by Mack Parking. Strata-titled carparks seldom enter onto the market, without added source in the pipe, offered restrictions on the strata neighborhood of common carparks, adds JLL.

The building is alongside the Kampong Glam sanctuary, that comprises dining establishments, dining establishments, retail stores, and also entertainment venues. Other commercial developments in the vicinity consist of City Gate, The Concourse, Parkroyal on Beach Road, and Duo.


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