Freehold mixed-use building in Newton up for sale at $20 mil
Michael Tay, director of resources markets in Singapore at CBRE, thinks that the residential property will take pleasure in prospective capital and rentals upsides, underpinned by the continuous revival of the Orchard Road and also Novena parts. He projects strong capitalist interest in the apartment, in addition to attention from owner-occupiers seeking a property ideal for calling and signage rights.
The whole property is currently rented to a vet center with personnel quarters, suggesting it can give a profitable purchaser with prompt 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 likewise neighbored by services like the Novena Square, Square 2 and United Square shopping malls, Newton Food Centre and health care complicated Health City Novena.
He adds that the effective customer can explore several value-add angles to shift the property, based on authorizations from the appropriate authorities. This consists of making use of the residential property for F&B buildings, display room, gym, industrial college or co-living purposes, among others.
A five-storey estate building nestled at 200 Bukit Timah Road in Area 9’s Newton precinct is up for sale through an expression of interest (EOI) exercise. The guide price for the home is around $20 million, which comes out to $2,295 psf on the complete gross floor area (GFA), according to advertising agent CBRE.
The building is a mixed commercial and also residence building that sits on a land area of about 2,083 sq ft, with a total GFA of 8,715 sq ft. It is provided with elevator accessibility around all 5 floors as well as has an exclusive parking lot with 5 parking area. (Discover Singapore commercial apartments with our commercial directory).
The EOI exercise for 200 Bukit Timah is going to end on July 27 at 3pm.