reporter2
13-02-19, 18:28
Freehold commercial building for sale with S$25m guide price
Wed, Feb 13, 2019
A FREEHOLD four-storey commercial building near Jalan Besar MRT station is up for sale in an expression-of-interest exercise, its exclusive marketing agent JLL said on Tuesday. The exercise closes at 3pm on March 20.
The property at 7 Hindoo Road has a 15-m wide frontage, a land area of 3,519 square feet and a gross floor area (GFA) of about 13,970 sq ft. The guide price is S$25 million or S$1,790 per square foot on the GFA. The incoming owner has potential naming and signage rights for the property.
Zoned for commercial use under the 2014 Master Plan, it is now leased to a retail shop on the ground floor and offices on the upper floors.
Each floor has a regular, column-free layout, "generous ceiling height" and lift access, said JLL; the space could be used for a food-and-beverage business, a showroom, medical suites or for an entertainment business, subject to the authorities' approval.
JLL noted that with the commercial zoning, foreigners are eligible to purchase the building. There is no additional buyer's stamp duty or seller's stamp duty imposed on the purchase of the property.
Said JLL senior director Clemence Lee: "With prices of shophouses and boutique buildings in the Central Business District reaching record levels, we're starting to notice that some investors are diverting their attention to city-fringe properties, as these prices have yet to catch up and rental yields are comparatively higher. Coupled with the improving office-market fundamentals, we believe that 7 Hindoo Road offers a compelling investment opportunity to astute investors."
Wed, Feb 13, 2019
A FREEHOLD four-storey commercial building near Jalan Besar MRT station is up for sale in an expression-of-interest exercise, its exclusive marketing agent JLL said on Tuesday. The exercise closes at 3pm on March 20.
The property at 7 Hindoo Road has a 15-m wide frontage, a land area of 3,519 square feet and a gross floor area (GFA) of about 13,970 sq ft. The guide price is S$25 million or S$1,790 per square foot on the GFA. The incoming owner has potential naming and signage rights for the property.
Zoned for commercial use under the 2014 Master Plan, it is now leased to a retail shop on the ground floor and offices on the upper floors.
Each floor has a regular, column-free layout, "generous ceiling height" and lift access, said JLL; the space could be used for a food-and-beverage business, a showroom, medical suites or for an entertainment business, subject to the authorities' approval.
JLL noted that with the commercial zoning, foreigners are eligible to purchase the building. There is no additional buyer's stamp duty or seller's stamp duty imposed on the purchase of the property.
Said JLL senior director Clemence Lee: "With prices of shophouses and boutique buildings in the Central Business District reaching record levels, we're starting to notice that some investors are diverting their attention to city-fringe properties, as these prices have yet to catch up and rental yields are comparatively higher. Coupled with the improving office-market fundamentals, we believe that 7 Hindoo Road offers a compelling investment opportunity to astute investors."