Freehold mixed-use building in Newton up for sale at $20 mil
A five-storey property structure situated at 200 Bukit Timah Road in Area 9’s Newton precinct is up for sale through an expression of interest (EOI) exercise. The guide cost for the apartment is approximately $20 million, which works out to $2,295 psf on the complete gross flooring area (GFA), according to marketing agent CBRE.
The whole property is currently rented to a vet center with personnel quarters, suggesting it can offer an excellent client with immediate rental earnings. 200 Bukit Timah is a brief walk away from the Newton MRT Interchange Station on the North-South and also Downtown Lines. It is also surrounded by features like the Novena Square, Square 2 and United Square mall, Newton Food Centre as well as health care facility Health City Novena.
He includes that the successful customer can check out several value-add angles to rearrange the investment, based on authorizations from the pertinent authorities. This includes using the residential property for F&B facilities, showroom, fitness center, business university or co-living applications, among others.
Michael Tay, head of resources markets in Singapore at CBRE, believes that the residential property will certainly appreciate possible capital and rentals upsides, underpinned by the continuous renewal of the Orchard Road as well as Novena areas. He projects strong financier attention in the apartment, in addition to interest from owner-occupiers looking for an establishment ideal for labeling as well as signs dues.
The property is a mixed commercial and also household establishment that sits on a land area of around 2,083 sq ft, with an overall GFA of 8,715 sq ft. It is provided with lift accessibility over all five levels as well as has a private parking area with 5 parking area. (Find Singapore commercial apartments with our industrial directory).
The EOI exercise for 200 Bukit Timah will close on July 27 at 3pm.
