Freehold mixed-use building in Newton up for sale at $20 mil
A five-storey freehold building located at 200 Bukit Timah Street in District 9’s Newton district is up for sale with an expression of interest (EOI) exercise. The overview deal for the building is approximately $20 million, which works out to $2,295 psf on the complete gross floor area (GFA), according to advertising agent CBRE.
Michael Tay, director of capital markets in Singapore at CBRE, believes that the property will enjoy possible funding and also rentals advantages, built by the ongoing revival of the Orchard Road as well as Novena parts. He assumes strong financier attention in the property, aside from attention from owner-occupiers trying to find an establishment suitable for naming as well as signage dues.
He incorporates that the successful home buyer can discover several value-add angles to reposition the asset, based on authorizations from the appropriate authorities. This consists of making use of the building for F&B buildings, display room, gym, industrial school or co-living purposes, amongst others.
The apartment is a blended industrial as well as non commercial building that rests on a land area of around 2,083 sq ft, with an overall GFA of 8,715 sq ft. It is set up with lift accessibility throughout all 5 floors and has an exclusive parking lot with five parking area. (Discover Singapore industrial apartments with our industrial directory).
The whole property is presently leased to a veterinary center with staff quarters, meaning it can supply a profitable purchaser with prompt rental cash flow. 200 Bukit Timah is a brief walk away from the Newton MRT Interchange Station on the North-South as well as Downtown Lines. It is additionally bordered by facilities like the Novena Square, Square 2 as well as United Square shopping center, Newton Food Centre as well as health care facility Health City Novena.
The EOI exercise for 200 Bukit Timah will finalize on July 27 at 3pm.