New Reporter
01-10-20, 18:15
Yio Chu Kang Road childcare centre-approved site put on market
Wed, Sep 30, 2020
Vivienne Tay
https://www.businesstimes.com.sg/real-estate/yio-chu-kang-road-childcare-centre-approved-site-put-on-market
A SECOND childcare-related space is up for sale this week, with consultancies describing this kind of asset as "rare".
The site at 331 Yio Chu Kang Road is for sale via expression of interest (EOI), with exclusive marketing agent Knight Frank expecting offers in excess of S$14.8 million. (see clarification note)
The 999-year leasehold land plot spans a site area of about 10,851 square feet (sq ft) and a gross floor area of 19,431 sq ft, Knight Frank said in a statement on Tuesday. A three-storey building with a basement sits on the plot.
It is located in the Sengkang area - which is regarded as one of the youngest residential estates in Singapore.
Ian Loh, Knight Frank Singapore's head of capital markets for land and building, collective and strata sales, said childcare centres are an essential service providing education and care to the children of the young-adult working community. "With its proximity to a young estate like Sengkang, we expect very strong interest for this opportunity," he added.
The childcare centre-approved site is available for sale with vacant possession, and the purchaser has the option of continuing operations as a childcare centre. Under the prevailing Master Plan, the site is zoned "residential" with a gross plot ratio of 1.4. It was previously approved for use as a commercial school, students' hostel and nursing home.
Sharon Lee, Knight Frank Singapore's head of auction and sales, said standalone sites as childcare centres are rarely available for sale.
"Potential purchasers who are keen to join or continue this line of business can save the hassle of having to go through a tedious application process, as the site is in a readily operational state as a childcare centre," she added.
The EOI exercise for 331 Yio Chu Kang Road closes at 3pm on Nov 5.
On Monday, six strata-titled commercial units off Serangoon Road, also with approval for childcare use, were put up for sale collectively by EOI with a guide price of S$25 million.
Located at 1 Jalan Taman, the property is tenanted to an established preschool operator. It also sits in an area with a large catchment of young families. Tristar Properties associate director Edwin Yip called the property a "rare education asset" which offers a resilient tenancy with long-term rental growth.
Clarification note: Marketing agent Knight Frank has clarified that it is the site which the childcare centre sits on which is being sold and not the childcare business itself.
Wed, Sep 30, 2020
Vivienne Tay
https://www.businesstimes.com.sg/real-estate/yio-chu-kang-road-childcare-centre-approved-site-put-on-market
A SECOND childcare-related space is up for sale this week, with consultancies describing this kind of asset as "rare".
The site at 331 Yio Chu Kang Road is for sale via expression of interest (EOI), with exclusive marketing agent Knight Frank expecting offers in excess of S$14.8 million. (see clarification note)
The 999-year leasehold land plot spans a site area of about 10,851 square feet (sq ft) and a gross floor area of 19,431 sq ft, Knight Frank said in a statement on Tuesday. A three-storey building with a basement sits on the plot.
It is located in the Sengkang area - which is regarded as one of the youngest residential estates in Singapore.
Ian Loh, Knight Frank Singapore's head of capital markets for land and building, collective and strata sales, said childcare centres are an essential service providing education and care to the children of the young-adult working community. "With its proximity to a young estate like Sengkang, we expect very strong interest for this opportunity," he added.
The childcare centre-approved site is available for sale with vacant possession, and the purchaser has the option of continuing operations as a childcare centre. Under the prevailing Master Plan, the site is zoned "residential" with a gross plot ratio of 1.4. It was previously approved for use as a commercial school, students' hostel and nursing home.
Sharon Lee, Knight Frank Singapore's head of auction and sales, said standalone sites as childcare centres are rarely available for sale.
"Potential purchasers who are keen to join or continue this line of business can save the hassle of having to go through a tedious application process, as the site is in a readily operational state as a childcare centre," she added.
The EOI exercise for 331 Yio Chu Kang Road closes at 3pm on Nov 5.
On Monday, six strata-titled commercial units off Serangoon Road, also with approval for childcare use, were put up for sale collectively by EOI with a guide price of S$25 million.
Located at 1 Jalan Taman, the property is tenanted to an established preschool operator. It also sits in an area with a large catchment of young families. Tristar Properties associate director Edwin Yip called the property a "rare education asset" which offers a resilient tenancy with long-term rental growth.
Clarification note: Marketing agent Knight Frank has clarified that it is the site which the childcare centre sits on which is being sold and not the childcare business itself.