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

Michael Tay mentions that the effective buyer can discover several value-add angles to reposition the possession, based on approvals from the relevant authorities. This includes using the apartment for F&B establishments, display room, health club, business college or co-living applications, amongst others.

A five-storey freehold structure nestled at 200 Bukit Timah Road in District 9’s Newton district is up for sale with an expression of interest (EOI) exercise. The guide cost for the residential property is around $20 million, which comes out to $2,295 psf on the complete gross flooring area (GFA), according to advertising agent CBRE.

The apartment is a blended industrial and residential building that sits on a land area of around 2,083 sq ft, with an overall GFA of 8,715 sq ft. It is set up with elevator access across all five floors and has a personal car park with 5 parking lots. (Look for Singapore business homes with our business directory site).

Michael Tay, director of resources markets in Singapore at CBRE, thinks that the home will appreciate potential funding and rental benefits, built by the ongoing restoration of the Orchard Road as well as Novena locations. He assumes solid capitalist attention in the building, in addition to attention from owner-occupiers looking for an establishment perfect for calling and also signage rights.

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The entire home is presently rented to a veterinary center with staff quarters, suggesting it can provide an excellent investor with immediate rental revenue. 200 Bukit Timah is a brief walk away from the Newton MRT Interchange Station on the North-South as well as Downtown Lines. It is also surrounded by amenities like the Novena Square, Square 2 and also United Square shopping center, Newton Food Centre and medical care complicated Health City Novena.

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

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