Freehold mixed-use building in Newton up for sale at $20 mil
The condominium is a mixed industrial and residential establishment that remains on a land area of approximately 2,083 sq ft, with a complete GFA of 8,715 sq ft. It is set up with lift access across all 5 floors as well as has a special parking area with five parking lots. (Locate Singapore industrial residential properties with our commercial directory).
Michael Tay includes that the successful buyer can discover numerous value-add angles to rearrange the property, subject to approvals from the relevant authorities. This consists of using the building for F&B establishments, showroom, gym, commercial academic institution or co-living applications, among others.
A five-storey freehold structure nestled at 200 Bukit Timah Street in District 9’s Newton district is up for sale with an expression of interest (EOI) exercise. The overview rate for the residential property is approximately $20 million, which comes out to $2,295 psf on the overall gross floor area (GFA), according to advertising representative CBRE.
The entire residential property is presently rented to a veterinary facility with staff quarters, meaning it can give an excellent investor with immediate rental income. 200 Bukit Timah is a brief walk away from the Newton MRT Interchange Terminal on the North-South and Downtown Lines. It is also bordered by facilities like the Novena Square, Square 2 and United Square shopping malls, Newton Food Centre and healthcare complicated Health City Novena.
Michael Tay, head of capital markets in Singapore at CBRE, believes that the residential property will certainly delight in possible capital and leasing upsides, underpinned by the ongoing revival of the Orchard Road and also Novena areas. He expects strong financier attention in the apartment, aside from attention from owner-occupiers trying to find a structure perfect for labeling as well as signs dues.
The EOI exercise for 200 Bukit Timah will finalize on July 27 at 3pm.
