Mixed residential, commercial building on Bukit Timah Road on sale with S$20m guide p

Mixed residential, commercial building on Bukit Timah Road on sale with S$20m guide price

Jun 22, 2022

A 5-STOREY mixed commercial and residential building, 200 Bukit Timah Road, has been put up for sale at a guide price of S$20 million, said exclusive marketing agent CBRE on Wednesday (Jun 22).

The freehold property, located in the Newton precinct, sits on a land area of 2,083 square feet (sq ft) and has a total gross floor area of 8,715 sq ft. The guide price represents S$2,295 per sq ft on the total gross floor area.

The entire property is currently leased to a veterinary centre with staff quarters, which CBRE said will provide the successful buyer with immediate rental income. The building also has a private carpark with 5 parking lots.

Amenities in the area include shopping options on Orchard Road and in the Novena area, and Newton Food Centre. The property is also within walking distance to Newton MRT interchange.

Michael Tay, head of capital markets, Singapore at CBRE, expects to see strong interest from investors looking to capitalise on rejuvenation and transformation plans in the area. He expects to attract owner-occupiers looking for a building that is ideal for naming and signage rights.

He said: “Freehold assets in such prime location are rarely available for sale, let alone one of a palatable investment quantum.”

CBRE noted that the property is zoned for commercial and residential use under the Urban Redevelopment Authority’s Master Plan 2019, hence both locals and foreigners are eligible to purchase it.

The sale will be conducted through an expression of interest exercise, which will close on Jul 27 at 3 pm.

https://www.businesstimes.com.sg/rea...0m-guide-price