Freehold mixed-use building in Newton up for sale at $20 mil
Michael Tay, head of funding markets in Singapore at CBRE, believes that the building will appreciate potential capital and rental advantages, built by the recurring renewal of the Orchard Road as well as Novena parts. He anticipates solid capitalist interest in the apartment, aside from enthusiasm from owner-occupiers looking for a building ideal for labeling and also signs rights.
The residential property is a mixed business and household establishment that remains on a land area of around 2,083 sq ft, with an overall GFA of 8,715 sq ft. It is provided with lift accessibility across all 5 floors and also has a private parking area with 5 parking lots. (Look for Singapore industrial apartments with our industrial directory).
The entire property is currently rented to a vet centre with staff quarters, indicating it can provide a successful investor with prompt rental earnings. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Station on the North-South and also Downtown Lines. It is additionally surrounded by amenities like the Novena Square, Square 2 and United Square shopping malls, Newton Food Centre and medical care complicated Health City Novena.
A five-storey property building situated at 200 Bukit Timah Road in District 9’s Newton district is up for sale through an expression of interest (EOI) exercise. The overview cost for the residential property is approximately $20 million, which works out to $2,295 psf on the overall gross floor area (GFA), according to marketing representative CBRE.
He incorporates that the successful buyer can check out several value-add angles to rearrange the asset, subject to approvals from the relevant authorities. This includes making use of the apartment for F&B establishments, display room, fitness center, business college or co-living reasons, amongst others.
The EOI exercise for 200 Bukit Timah is going to end on July 27 at 3pm.