Freehold mixed-use building in Newton up for sale at $20 mil
A five-storey property building located at 200 Bukit Timah Road in Area 9’s Newton district is up for sale through an expression of interest (EOI) exercise. The guide 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 representative CBRE.
The whole building is currently leased to a veterinary facility with personnel quarters, meaning it can provide an effective buyer with instant rental revenue. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Station on the North-South and also Downtown Lines. It is likewise surrounded by services like the Novena Square, Square 2 and United Square shopping center, Newton Food Centre as well as medical care complex Health City Novena.
The home is a combined industrial as well as residential establishment that sits 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 around all five levels as well as has an exclusive parking area with 5 parking area. (Locate Singapore business apartments with our business directory site).
He includes that the effective investor can check out several value-add angles to rearrange the possession, subject to approvals from the appropriate authorities. This includes using the residential property for F&B establishments, showroom, gym, industrial university or co-living goals, among others.
Michael Tay, head of capital markets in Singapore at CBRE, thinks that the property will take pleasure in prospective capital and rental upsides, underpinned by the recurring restoration of the Orchard Road as well as Novena parts. He projects solid investor attention in the residential property, aside from enthusiasm from owner-occupiers looking for an establishment perfect for calling and signage rights.
The EOI exercise for 200 Bukit Timah will finalize on July 27 at 3pm.