reporter2
16-03-22, 10:51
Commercial podium at 183 Longhaus for sale at S$38m guide price
Mar 15, 2022
https://i.imgur.com/wz3p02F.png
A FREEHOLD commercial podium at 183 Longhaus has been launched for sale via expression of interest (EOI), announced exclusive marketing agent SRI Capital Market in a press statement on Tuesday (Mar 15).
The asset for sale comprises 10 strata commercial units and has an indicative guide price of S$38 million, which works out to about S$3,366 per square foot (psf) based on about 11,290 square feet (sq ft) of strata area.
Collectively, these strata units form the commercial component of 183 Longhaus at 183 Upper Thomson Road, which also has a residential block from levels 2 to 4.
Out of the 10 units, 5 are located on the first level for F&B (food and beverage) use, with the remaining 5 at the basement level for retail use.
According to the agent, the commercial space is currently up to 80 per cent occupied by tenants comprising "a vibrant mix" of F&B outlets as well as fitness and pilates studios.
A 100 per cent ownership of the commercial podium will allow the potential buyer to actively manage this tenant mix within the development, said SRI managing partner Low Choon Sin.
"This asset will appeal to investors looking to acquire an entire commercial podium with immediate rental income and sizeable share value ownership," said Low.
He also sees potential for the property to enjoy a higher footfall traffic and injected vibrancy, given the recent opening of the Upper Thomson MRT Station and nearby high-rise developments such as Thomson Impression and JadeScape, an upcoming 1,206-unit condominium.
Highlighting the prominent location of 183 Longhaus along Upper Thomson Road, SRI said the property commands excellent visibility with wide road frontages and is a 6-minute walk to the Upper Thomson MRT Station.
It is also well connected to the rest of the island via major arterial road and expressways including Lornie Road, PIE (Pan Island Expressway) and CTE (Central Expressway).
The EOI is due to close at 3pm on Apr 25, 2022.
183 Longhaus was launched as a mixed development in 2016 by boutique property developer Tee Land - then a subsidiary of mainboard-listed Tee International before it was sold to Malaysia's Amcorp Group in 2020.
As reported in March 2016, the development was the only new private residential project launched in February that year. The 40-unit development sold 11 of 20 released units at a median price of S$1,659 psf.
Mar 15, 2022
https://i.imgur.com/wz3p02F.png
A FREEHOLD commercial podium at 183 Longhaus has been launched for sale via expression of interest (EOI), announced exclusive marketing agent SRI Capital Market in a press statement on Tuesday (Mar 15).
The asset for sale comprises 10 strata commercial units and has an indicative guide price of S$38 million, which works out to about S$3,366 per square foot (psf) based on about 11,290 square feet (sq ft) of strata area.
Collectively, these strata units form the commercial component of 183 Longhaus at 183 Upper Thomson Road, which also has a residential block from levels 2 to 4.
Out of the 10 units, 5 are located on the first level for F&B (food and beverage) use, with the remaining 5 at the basement level for retail use.
According to the agent, the commercial space is currently up to 80 per cent occupied by tenants comprising "a vibrant mix" of F&B outlets as well as fitness and pilates studios.
A 100 per cent ownership of the commercial podium will allow the potential buyer to actively manage this tenant mix within the development, said SRI managing partner Low Choon Sin.
"This asset will appeal to investors looking to acquire an entire commercial podium with immediate rental income and sizeable share value ownership," said Low.
He also sees potential for the property to enjoy a higher footfall traffic and injected vibrancy, given the recent opening of the Upper Thomson MRT Station and nearby high-rise developments such as Thomson Impression and JadeScape, an upcoming 1,206-unit condominium.
Highlighting the prominent location of 183 Longhaus along Upper Thomson Road, SRI said the property commands excellent visibility with wide road frontages and is a 6-minute walk to the Upper Thomson MRT Station.
It is also well connected to the rest of the island via major arterial road and expressways including Lornie Road, PIE (Pan Island Expressway) and CTE (Central Expressway).
The EOI is due to close at 3pm on Apr 25, 2022.
183 Longhaus was launched as a mixed development in 2016 by boutique property developer Tee Land - then a subsidiary of mainboard-listed Tee International before it was sold to Malaysia's Amcorp Group in 2020.
As reported in March 2016, the development was the only new private residential project launched in February that year. The 40-unit development sold 11 of 20 released units at a median price of S$1,659 psf.