Freehold mixed-use building in Newton up for sale at $20 mil
Michael Tay, head of resources markets in Singapore at CBRE, believes that the building will delight in future capital as well as rentals upsides, set up by the recurring renewal of the Orchard Road as well as Novena areas. He anticipates strong financier interest in the building, in addition to curiosity from owner-occupiers looking for an establishment perfect for labeling and signage dues.
The entire building is currently leased to a veterinary facility with personnel quarters, meaning it can offer a profitable purchaser with immediate rental revenue. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Terminal on the North-South as well as Downtown Lines. It is additionally neighbored by services like the Novena Square, Square 2 and also United Square mall, Newton Food Centre and also health complicated Health City Novena.
The home is a mixed commercial and also household establishment that sits on a land area of approximately 2,083 sq ft, with a total GFA of 8,715 sq ft. It is equipped with elevator access over all five floors and has a personal parking lot with 5 car park. (Discover Singapore industrial buildings with our industrial directory).
A five-storey property building situated at 200 Bukit Timah Road in District 9’s Newton precinct is up for sale through an expression of interest (EOI) exercise. The overview cost for the building is roughly $20 million, which comes out to $2,295 psf on the total gross floor area (GFA), according to marketing agent CBRE.
He includes that the effective buyer can explore several value-add angles to shift the property, subject to approvals from the pertinent authorities. This consists of making use of the home for F&B facilities, showroom, fitness center, industrial university or co-living goals, amongst others.
The EOI exercise for 200 Bukit Timah is going to finalize on July 27 at 3pm.