Freehold mixed-use building in Newton up for sale at $20 mil
A five-storey estate building located at 200 Bukit Timah Road in District 9’s Newton precinct is up for sale with an expression of interest (EOI) exercise. The guide price for the apartment is approximately $20 million, which works out to $2,295 psf on the overall gross flooring area (GFA), according to promotion representative CBRE.
The entire property is presently leased to a veterinary center with staff quarters, suggesting it can provide a profitable investor with prompt rental income. 200 Bukit Timah is a brief walk away from the Newton MRT Interchange Terminal on the North-South as well as Downtown Lines. It is also bordered by facilities like the Novena Square, Square 2 and also United Square shopping center, Newton Food Centre and also healthcare complicated Health City Novena.
The apartment is a combined industrial and residential establishment that remains on a land area of around 2,083 sq ft, with an overall GFA of 8,715 sq ft. It is equipped with elevator access over all 5 floors and has an exclusive parking area with five parking area. (Find Singapore business properties with our business directory site).
Michael Tay, head of capital markets in Singapore at CBRE, believes that the home will certainly delight in possible resources and also rental benefits, set up by the ongoing revival of the Orchard Road as well as Novena places. He expects good capitalist interest in the apartment, besides enthusiasm from owner-occupiers looking for a building suitable for identifying and also signage dues.
He includes that the successful buyer can explore a number of value-add angles to shift the investment, based on authorizations from the relevant authorities. This consists of making use of the building for F&B business, showroom, gym, industrial university or co-living functions, among others.
The EOI exercise for 200 Bukit Timah is going to close on July 27 at 3pm.