Freehold mixed-use building in Newton up for sale at $20 mil

A five-storey apartment building situated at 200 Bukit Timah Road in District 9’s Newton district is up for sale through an expression of interest (EOI) exercise. The guide deal for the apartment is about $20 million, which comes out to $2,295 psf on the overall gross floor area (GFA), according to promotion representative CBRE.

Michael Tay, head of capital markets in Singapore at CBRE, thinks that the apartment will certainly take pleasure in potential capital and also leasing benefits, set up by the continuous restoration of the Orchard Road as well as Novena parts. He anticipates good capitalist interest in the residential property, besides interest from owner-occupiers seeking a property suitable for labeling as well as signage dues.

Clavon Condo Clementi in Avenue 1

He incorporates that the effective customer can check out several value-add angles to reposition the asset, subject to authorizations from the appropriate authorities. This consists of using the apartment for F&B business, display room, health club, commercial university or co-living goals, among others.

The whole building is presently rented to a veterinary centre with staff quarters, meaning it can supply an effective customer with immediate rental income. 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 also neighbored by features like the Novena Square, Square 2 and United Square shopping malls, Newton Food Centre and health care complex Health City Novena.

The residential property is a combined business and residence establishment that is located on a land area of around 2,083 sq ft, with a total GFA of 8,715 sq ft. It is set up with lift access over all 5 levels as well as has a personal parking area with five parking lots. (Look for Singapore business homes with our industrial directory site).

The EOI exercise for 200 Bukit Timah is going to end on July 27 at 3pm.

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