Nursing home on Sims Avenue for sale at $27 mil
The real estate is a four-storey separated building with a basement. It has an entire flooring area of about 11,859 sq ft. The real estate sits on a freehold land area of 6,350 sq ft which is area for health plus treatment usage under the 2019 URA Master Plan. Land with this zoning is designated for healthcare facilities, polyclinics and even retirement home.
The property lies just off the exit of the Kallang-Paya Lebar Expressway. The bordering neighbourhood predominantly comprises shophouses and light industrial buildings found around Sims Avenue including Geylang Road. Lock thinks the property will garner interest from buyers within healthcare-related markets, including clinical business, hospital or assisted living care companies, or various other assisted living facility owners. “It’s rather uncommon for an area zoned for health and wellness as well as medical care to go up for sale,” she remarks.
Piccadilly Grand showflat location
An assisted living home placed around Sims Avenue will be put up for sell-off on March 16 with an overview price of $27 million. It is a property owner’s sale, says Lock Sau Lai, top supervisor, auction & sales at Knight Frank, that is handling the auction and also is the sole marketing firm for the property.
Aside From Charis Manor, the owners additionally run CSM Academy International, a nonpublic education institution being experts in healthcare assistances and also caregiver training sessions.
The building currently has public spaces on the first floor, consisting of the cooking area and dining area, an activity area, a local library, a personnel canteen along with a workplace location. Wards and private areas stand on the top floors, whilst the cellar residences educating rooms and a rehabilitation centre. The building includes a lift that services all levels along with enough personal parking area, includes Lock.
Based upon the total floor area, the guide cost works out to be around $2,278 psf. The structure is currently being run by the managers as Charis Manor Nursing Home, a nonpublic center that offers extended stay, respite services as well as daycare services for the aged people. According to Lock, the proprietors are wanting to sell the commercial property on a sale and even leaseback agreement. The purchaser of the building are going to rent out the estate to the owner for 3 years, with a possible expansion for one more 2 years.
