Freehold mixed-use building in Newton up for sale at $20 mil
A five-storey property building nestled at 200 Bukit Timah Road in Area 9’s Newton district is up for sale with an expression of interest (EOI) exercise. The guide value for the property is roughly $20 million, which works out to $2,295 psf on the overall gross floor area (GFA), according to marketing agent CBRE.
Michael Tay, director of capital markets in Singapore at CBRE, thinks that the property will take pleasure in potential resources and rental upsides, built by the recurring restoration of the Orchard Road as well as Novena areas. He assumes solid investor interest in the residential property, besides interest from owner-occupiers looking for a structure perfect for calling and also signs rights.
The building is a blended business and residence establishment that remains on a land area of about 2,083 sq ft, with an overall GFA of 8,715 sq ft. It is provided with lift access over all 5 floors and has a special parking area with five car park. (Look for Singapore industrial apartments with our industrial directory site).
He includes that the successful home buyer can explore several value-add angles to reposition the investment, based on authorizations from the relevant authorities. This consists of using the residential property for F&B business, showroom, gym, commercial institution or co-living purposes, amongst others.
The whole home is currently leased to a vet center with team quarters, indicating it can supply an excellent client with immediate rental revenue. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Station on the North-South as well as Downtown Lines. It is likewise surrounded by amenities like the Novena Square, Square 2 as well as United Square mall, Newton Food Centre and also medical care complex Health City Novena.
The EOI exercise for 200 Bukit Timah will close on July 27 at 3pm.