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

The carpark makes up 685 auto parking spaces also 40 motorbike lots. The complete strata area accounts for about 30% of the overall strata area of the property development. By share worth, this has to do with 1.02% of the complete property. The remainder of the building consists of a seven-storey retail podium with 150 retail units, six workplace floors with 63 workplace units, as well as 12 residential levels that place 132 units.

The six-floor strata-titled carpark at Textile Centre has already been offered with a guide rate of $36 million. According to the advertising representative, JLL, this specific deal consists of a surrounding plot of business land that is utilised as the carpark’s driveway.

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According to JLL, carparks are a resistant possession class with secure persisting income and also reasonably low servicing and even operating costs. The carpark is currently managed by Mack Parking. Strata-titled carparks hardly ever appear onto the marketplace, with no extra supply in the pipeline, provided constraints on the strata neighborhood of public carparks, adds JLL.

The building is beside the Kampong Glam sanctuary, which comprises restaurants, eateries, retail outlets, and also leisure venues. Other profitable projects in the vicinity include City Gate, The Concourse, Parkroyal on Beach Road, and even Duo.

The property will be offered in an exclusive treaty sale and is showcased by Terry Wong and even Alaric Yeo, top supervisor and top manager, respectively, of JLL’s capital markets professionals

The 200,456 sq ft carpark extends the 3rd to seventh floors of Textile Centre, itself a 25-storey, mixed-use building at 200 Jalan Sultan in Area 7. Fabric Centre positions at a popular central area in the Beach Route place, at the link of Jalan Sultan and North Bridge Road.